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Jubilant Life Sciences plummets 10% on USFDA warning letter

By Religare

Jubilant Life Sciences plummets 10% on USFDA warning letter
Shares of Jubilant Life Sciences Ltd fell as much as 10 per cent in the morning trade on Bombay Stock Exchange (BSE) after the company said one of its manufacturing facilities, Jubilant HollisterStier, LLC (JHS) located at Spokane, Washington State, US has been issued a Warning Letter (WL) by US Food and Drug Administration (FDA).

At 12:15 hours, shares of the company were trading at Rs 126.05 a piece, down 9.96 per cent from previous close on BSE.

"As required by FDA, JHS-Spokane will respond to this WL on or before 12 December 2013. The response will identify corrective actions already been completed as well as some pending corrective actions to ensure on-going cGMP compliance," said Jubilant in a filing to the BSE.

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