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Last Updated : Jul 02, 2019 12:05 PM IST | Source: Moneycontrol.com

Strides Pharma shares decline 6% after USFDA issues warning letter

The company received a warning letter from USFDA relating to Puducherry facility.

 
 
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Strides Pharma Science shares fell 6.6 percent intraday on July 2 after the US health regulator classified the company's Puducherry facility as Official Action Indicated (OAI).

The company informed exchanges that it has received a warning letter from USFDA relating to Puducherry facility.

Puducherry site currently produces 6 ANDAs that will not be affected by the current development, it said, adding 10 ANDAs pending approval from the site will get deferred till the site is reclassified.

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Strides further said it is committed to the highest standards of quality and compliance and will work collaboratively with the FDA to resolve all issues addressed in the warning letter

The company retained its growth guidance for the US market, it added.

The stock was quoting at Rs 396.50, down Rs 15.40, or 3.74 percent on the BSE at 1141 hours IST.

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First Published on Jul 2, 2019 12:05 pm
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