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Aurobindo Pharma shares drop following Jagan Reddy arrest
Aurobindo Pharma is under Central Bureau of Investigation (CBI) scanner for alleged links with Y S Jagan Mohan Reddy, who was arrested late yesterday.
Shares of Aurobindo Pharma have been dropping over the last couple of months following ongoing reports of allegations with Jagan Reddy.
In early April the stock had plunged almost 8% in a single trading day as reports of the company receiving unfair advantages due to its links with Jagan Reddy surfaced.
Aurobindo Pharma is amongst the largest 'Vertically Integrated' pharmaceutical companies in India, Aurobindo has robust product portfolio spread over major product areas encompassing CVS, CNS, Anti-Retroviral, Antibiotics, Gastroenterologicals, Anti-Diabetics and Anti-Allergic with approved manufacturing facilities by USFDA, UKMHRA, WHO, MCC-SA, ANVISA-Brazil for both APIs & Formulations and has Global presence with own infrastructure, strategic alliances, subsidiaries & joint ventures.
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