Aurobindo Pharma slips after US FDA issues 9 observations to Eugia Pharma

Aurobindo Pharma Share Price: The Aurobindo Pharma stock slipped on BSE on Monday (February 5, 2024) after the company decided to stop production from some lines after nine observations issued by US FDA.

Aurobindo Pharma shares slipped by 0.67 per cent, or Rs 7.10, at Rs 1059.25 each at 11:07 am on Monday. 

Aurobindo Pharma's subsidiary, Eugia Pharma's Unit III, had been issued nine observations from the US FDA.

The investigation was conducted from January 22 to February 2.

Eugia Pharma ties up with Empower Clinic Services

Eugia US Manufacturing also entered into an asset purchase agreement with Empower Clinic Services New Jersey, LLC to dispose of its business assets as a going concern with related assets and liabilities and employees, as per Aurobindo Pharma's statement on Monday.

Eugia Pharma is set to get $110 crore under share sale.