Cipla shares fell as much as 2% during the trading session on 21 September after InvaGen Pharmaceuticals, its wholly-owned subsidiary, received 5 inspectional observations from the USFDA (United States Food and Drug Administration).

The company said in its exchange filing, “We notify that the inspection was conducted at the manufacturing facility of InvaGen located in Central Islip, Long Island, New York, USA, from 11 September 2023 to 19 September 2023.”

At the end of the said inspection, the subsidiary received 5 inspectional observations in ‘Form 483’.

The company said that there are no repeat or data integrity observations.

The company added that it will work closely with the USFDA and is committed to addressing these observations comprehensively within the stipulated time.

At 3:22 pm, the shares of Cipla were trading at Rs 1,206.90 or 2.65% below its previous close on NSE.