Aurobindo Pharma shares tank 8% as USFDA warns of regulatory action
Updated : May 17, 2019 12:18 PM IST
Aurobindo Pharma shares dived nearly 8 percent intra-day on Friday after US FDA (US Food and Drug Administration) classified the inspections as Official Action Indicated (OAI).
OAI means regulatory and/or administrative actions will be recommended in future.
In its press release, the company said that it has received letters from the US FDA classifying the inspections concluded at their API facilities of Unit I and XI and intermediates facility of unit IX in February 2019 as OAI.