Indoco Remedies said it is in touch with the regulator regarding matter. "We will work with the USFDA to resolve these issues at the earliest," Indoco added.
Warnings pertain to disclosure lapses with private placement documents and not swiftly addressing investor grievances among others.
"Because your drug products were prepared, packed, or held under insanitary conditions, whereby they may have become contaminated with filth or rendered injurious to health," it stated.
The pharma company says it is committed to work with the US FDA to implement necessary corrective measures in the manufacturing facility in Goa.
In its Indian business, Lupin is expected to remain steady due to a better mix and outperformance in chronic therapies
In its warning letter US FDA clarified that that Divis got two types of import alerts, one is the usual 66-40 import alert that is issued for firms that haven’t met good manufacturing practices and the other 99-32 a rare import alert for firms that refuse or block FDA inspectors to inspect.
The company in conference call with analysts said the impact of the warning letter on the revenues is minimal, as the US FDA warning letter doesn't restrict the company from shipping product to the US, though new approvals may get impacted.
The USFDA had inspected company's manufacturing facilities Plant II and Plant III located in Verna Industrial Estate Area, Goa, between August 31 and September 4, 2016 and issued six observations in Form 483.
The US FDA had inspected Indoco's manufacturing facilities Plant II and Plant III located in Verna Industrial Estate Area, Goa), from August 31 to September 4, 2016 and issued six observations in Form 483.
Analysts considered the latest observations as a setback for the company as it dims hopes of new approvals for the US market in the next year.
“You should immediately and comprehensively assess your company‘s global manufacturing operations to ensure that systems and processes, and ultimately, the products manufactured, conform to (US) FDA requirements,†US FDA said.
Drug maker Dr Reddy‘s Laboratories will be put to a crucial test in the second week of April as the company gears up for major USFDA audits at its facilities in Srikakulam located some 70 kms away from port city of Visakhapatnam.
Warning letters resolutions are taking more time than ever before. Only 9 out of 108 warning letters have been sorted taking an average of 500 days. Data for India and China is even bleaker with just one resolution out of the 64 WLs issued in past 52 months, according to Edelweiss report.
Morton Grove Pharmaceuticals, a subsidiary of the firm, received a warning letter from the US drug regulator. The move is a blow to the company as it struggles with regulatory non-compliance.
Positive domestic and global cues could push up the indices in early trade on Thursday; Wockhardt could be on investors‘ radar following a warning letter issued by US FDA for its Illinois plant
Brokerage firms and analysts tracking the stock welcomed the development and most have raised the target price. To be sure a lot of them were expecting resolution of the warning letter on Moraiya facility in the fourth quarter of FY17.
The company said it did not receive any observations from USFDA for its Moraiya facility, indicating successful resolution of the warning letter and thereby expects major boost to its US business.
US Food and Drug Administration (USFDA) will re-audit three manufacturing facilities of Dr Reddy's Laboratories in the current quarter.
The German clearance allows the company to continue its supply of APIs across European Union.
The latest USFDA warning letter to Wockhardt for its active pharmaceutical ingredient plant in Ankleshwar, Gujarat is part of the "same process†of an earlier import alert the company received from the US regulator for the same facility.
On December 22, the USFDA made public the warning letter which states that inspection 483 mentioned 23 observations. Out of the 23 observations, 10 were related to the injectables facility, 4 were on the oral solids facility, 8 were related to quality control labs and 1 was on warehousing.
The warning letter follows inspection of the facility in September 2014 by US Food and Drug Administration (USFDA) inspectors.
Shares of Dr Reddy's Labs have been on a downward journey over the past two months, amid concerns over a warning letter the company received from the US FDA over some of its plants, and amid some currency headwinds it faces.