Aurobindo's Hyd unit getting form 483 a non-event: Surajit Pal

Aurobindo Pharma shares were down 3.1 percent to Rs 678 on the back of the news of its Hyderabad Unit getting form 483.The US Food and Drug Administration (FDA) is authorised to perform inspections under the Federal Food, Drug, and Cosmetic Act. In case of violations, FDA issues form 483 to list down the observations and communicate the concerns during these inspections.In conversation with CNBC-TV18, Surajit Pal of Prabhudas Lilladher says that the US FDA obseration is minor and it is a non-event. He added that investors do not need to get worried with respect to this news. Pal continues to hold his top picks in the pharma sector and that is Aurobindo Pharma, Jubilant Pharma, Glenmark and the recent addition is Thyrocare. He further advised to keep the pharma portfolio zero. But, if one wishes to invest then the money should be put in healthcare space particularly that space which is non-conventional pharma like diagnostic business for example Syngene, he added. Watch video for more...