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Shilpa Medicare share price locked at lower circuit on 15 observations from USFDA

The company is preparing responses to the observations, which will be submitted to the Agency within 15 business days.

February 26, 2020 / 12:56 PM IST
 
 
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Shilpa Medicare has locked at 5 percent lower circuit on February 26 after USFDA issued Form 483, with 15 observations for its Telangana facility.

It has touched a 52-week high of Rs 538.75.

United States Food and Drug Administration (USFDA) conducted good manufacturing practices (GMP) inspection of company's finished dosage formulation facility (Sterile and Non-sterile) located at 5-20 to 5-26, pharmaceutical formulations SEZ, TSIIC, Jadcherla, Telangana State, India from February 13-25, 2020.

At the conclusion of inspection, the agency issued Form 483, with 15 observations.

The company is preparing responses to the observations, which will be submitted to the Agency within 15 business days.

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The company is committed to address these observations promptly.

At 11:58 hrs, Shilpa Medicare was quoting at Rs 489.45, down Rs 25.75, or 5.00 percent on the BSE.
Moneycontrol News
first published: Feb 26, 2020 12:56 pm

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