Aurobindo Pharma gets boost despite US FDA raised objections in its American subsidiary's inspection

Aurobindo Pharma Share Price: Despite the US FDA raising multiuple objections during the inspection of its American stepdown subsidiary, Aurobindo Pharma shares were trading in positive territory on BSE on Tuesday. 

The Aurobindo Pharma stock was trading higher by 1.12 per cent, or Rs 11.90, at Rs 1078.05, at 10:10 am on Tuesday. 

"The United States Food and Drug Administration (US FDA) conducted a Pre-Approval Inspection (PAI) at new injectable facility of Eugia US Manufacturing LLC (a step-down wholly owned subsidiary of Aurobindo Pharma Ltd.), situated at East Windsor, New Jersey, USA from December 11 to December 22, 2023," the company said in a statement on Sunday.

The company further said, "The inspection closed with 10 observations. The observations are procedural in nature and will be responded to within the stipulated time. The plant is yet to start commercial operations."