Cipla slips after pharma firm gets 6 USFDA observations for its Patalganga facility

Cipla Share Price: Cipla slipped over one per cent in morning deals on BSE on Friday (April 5, 2024) after the company received six inspectional observations from USFDA for its facility located in Patalganga, Maharashtra.

The stock slipped by 1.36 per cent to the day's low of Rs 1439.90 on Friday having closed at Rs 1459.75 a day before.

The stock of the pharma company was trading lower by 0.15 per cent, or Rs 2.25, at Rs 1457.50 at 9:27 am on Friday.

USFDA observations

Cipla on Thursday said that a routine current Good Manufacturing Practices (cGMP) inspection was conducted by the United States Food and Drug Administration (USFDA) at the manufacturing facility of the company located in Patalganga, Maharashtra, India, from March 28, 2024, to April 4, 2024.

"On conclusion of the inspection, the Company has received 6 inspectional observations in Form 483. The company will work closely with the USFDA and is committed to address these comprehensively within the stipulated time," the company said in a statement.