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Last Updated : Oct 10, 2019 11:18 AM IST | Source: Moneycontrol.com

Torrent Pharmaceuticals slips 6% on warning letter from USFDA

The company does not believe that the warning letter will disrupt supplies or impact the revenue of its Indrad facility.

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Shares of Torrent Pharmaceuticals declined 6.7 percent intraday on October 10 after the company received a warning letter from the US Food and Drug Administration (USDFDA).

It received a warning letter, dated October 8, from the US health regulator for its Indrad facility in Gujarat, the company said in a BSE release.

The letter came after the USFDA in August classified its inspection as "Official Action Indicated" (OAI).

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"We will be engaging with the agency and are fully committed in resolving this issue at the earliest," the company said, adding it was committed to highest standards of compliance and quality manufacturing across all its facilities.

The company does not believe that the warning letter will disrupt supplies or impact revenues of Indrad facility.

At 1100 hours, Torrent Pharmaceuticals was quoting at Rs 1,629.00, down Rs 37.15, or 2.23 percent, on the BSE.

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First Published on Oct 10, 2019 11:18 am
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