Shares of Aurobindo Pharma Ltd slumped 2% on 28 January despite the company declaring that the Telangana active pharmaceutical ingredient (API) factory owned by one of its subsidiaries has been designated as a voluntary action indicated (VAI) establishment inspection report (EIR) by the US Food and Drug Administration (USFDA).

The Unit 2 API manufacturing facility is run by Apitoria Pharma Pvt Ltd, the company’s wholly-owned subsidiary. It is located in Gaddapotharam village IDA in the Sanga Reddy district of Telangana.

The USFDA conducted an inspection of the plant from 23 September to 27 September 2024.

Last month, the USFDA issued two procedural-type observations against Unit V, another API production facility owned by Apitoria Pharma. Within the given time frame, Aurobindo Pharma pledged to address the observations. From 9 December to 17 December 2024, the US drug regulator inspected the factory.

Earlier on 21 December, the company’s step-down subsidiary CuraTeQ Biologics s.r.o. secured marketing approval from the UK’s Medicines and Healthcare Products Regulatory Agency for Bevqolva, its biosimilar version of Bevacizumab.

Bevacizumab is utilized to treat various cancers, including metastatic colorectal cancer, recurrent or metastatic non-squamous non-small cell lung cancer, advanced or metastatic renal cell carcinoma, cervical cancer, as well as epithelial ovarian, fallopian tube, and primary peritoneal cancers.

At 12:55 pm, the shares of Aurobindo Pharma were trading 2.36% lower at Rs 1,148.50 on NSE.

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