Today, June 27, Aurobindo Pharma, a pharmaceuticals company, informed the stock exchanges that it had received a "warning letter" from the Securities and Exchange Board of India (SEBI) regarding the US Food and Drug Administration (USFDA) audit at its Hyderabad facility.
Aurobindo Pharma allegedly shared only a little amount of information about the US FDA audit, according to the report from SEBI. Further, the market regulator said that the company didn't disclose all the information regarding the USFDA action. Additionally, the market regulator alleged that the company failed to promptly release even basic information.
"From the disclosures made by the company, it was observed that the company had disclosed very limited and restricted information," stated the SEBI letter, a copy of which was attached by Aurobindo Pharma in its latest regulatory filing.
According to a corporate announcement the company made on November 10 of last year, the USFDA conducted an inspection at the business's "Unit 1," an API (active pharmaceutical ingredients) production plant, in Hyderabad between August 2 to August 12, 2021.
The stock of Aurobindo Pharma closed a Rs 521.25 per share, after falling 1.17%. It wa sopened at Rs 526.50 on NSE. The stock has recently, last week Monday 20th June hit the 52-week low at Rs 503.45.