Natco Pharma Shares Extend Fall; Down 5% On USFDA Observations

Mumbai, Mar 29 (PTI) Continuing to fall for the second consecutive day, shares of Natco Pharma fell by nearly 5 per cent today, after the company received 483 observations from the USFDA after inspection of its two facilities.

The scrip dipped 4.71 per cent to Rs 390 at BSE. On NSE, shares of the company fell by 4.45 per cent to Rs 390. In the previous session also, the stock had plummeted by 13 per cent.

Natco Pharma Shares Extend Fall; Down 5% On USFDA Observations
Natco Pharma: Quotes, News
BSE 620.50BSE Quote2 (0.32%)
NSE 619.75NSE Quote2.8 (0.45%)

An inspection was conducted by the US Food and Drug Administration (USFDA) at two of its facilities recently -- the Active Pharmaceutical Ingredients (API) manufacturing facility at Manali, near Chennai, and the Pharmaceutical Formulations facility at Kothur, near Hyderabad, in early February and March, respectively, Natco said in a statement on Sunday.

"The company has received 483 observations for both facilities and believes them to be of minor in nature," it had said.

Natco has already sent response and compliance report for these observations and believes that there would be no adverse impact to its current or future pipeline products coming from these facilities, it added.

PTI

Read more about: natco pharma
Story first published: Tuesday, March 29, 2016, 14:15 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?