"Oral solid dosage drug manufacturing plant located at SEZ, Ahmedabad has received an establishment inspection report (EIR) from the USFDA," the pharma company said in its filing.
CLSA downgraded the stock to underperform from outperform with reduced target price at Rs 355 (from Rs 473 per share earlier). The brokerage also reduced US business estimates by 17/20 percent for FY17/18 that resulted in cutting EPS expectations by 19 percent for FY17/18.
Pankaj R Patel, CMD, Cadila Healthcare, said there are no data integrity issues with the Moraiya facility. He said the company plans to give additional information to the US FDA to address the Moraiya issue