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Aurobindo Pharma Shares Slump 1% as Arm Receives 3 Observations

The US regulatory closed the inspection with three procedural observations.

Shares of Aurobindo Pharma Ltd were trading in the red and 1.5% lower on 8 April after the company announced receiving three observations from USFDA.

In its regulatory filing, the company said that the United States Food and Drug Administration (USFDA) had conducted an inspection at the new injectable facility of Eugia Steriles, which is a step-down subsidiary of the company in Andhra Pradesh from 28 March to 5 April.

The US regulatory closed the inspection with three procedural observations, which the company will address within the stipulated time.

On 5 April, T Vijaya Kumar was named by the Aurobindo Pharma board as the company’s president of research and development (speciality medication delivery). As a result, T Vijaya Kumar will join the company’s senior management group.

Additionally, the business reported that on 6 April at approximately 11:30 pm, an accident happened close to the Vacuum Tray Dryer (VTD) area of Apitoria Pharma Private Limited’s Unit 6, which is located in Parawada in the Anakapalli region of Andhra Pradesh.

Sadly, one person lost their life as a result of the incident.

At 3:30 pm, the shares of Aurobindo Pharma closed 0.16%lower at Rs 1,121.95 on NSE.

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