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    Cipla falls after Goa unit receives form 483 from USFDA

    Cipla falls after Goa unit receives form 483 from USFDA

    Cipla falls after Goa unit receives form 483 from USFDA
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    By Asmita Pant   IST (Published)

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    The stock of the pharma company was trading 1.6 percent down at Rs 1,028.5 on BSE at the time of writing.

    Shares of pharmaceutical company Cipla fell as much as 2.89 percent on Monday as the US Food and Drug Administration issued form 483 to the company's Goa unit.
    The stock of the pharma company was trading 1.6 percent down at Rs 1,028.5 on BSE at the time of writing.
    A warning letter was issued to the Goa facility in February 2020. The USFDA has issued three repeat observations to the plant in question.
    The procedures designed to prevent microbiological contamination did not include adequate validation of the aseptic process, and the processing areas are deficient regarding the system for cleaning and disinfecting, the USFDA has observed.
    Appropriate controls are not exercised over computers or related systems and responsibilities and procedures applicable to quality control are not in writing or fully followed, it said. Procedures for cleaning and maintenance of equipment were also found deficient.
    The US regulator had previously issued six observations to the company's Goa manufacturing facility in mid-August.
    Nomura maintained a 'buy' rating on the shares of Cipla with a target price of Rs 1,195. The brokerage house believes that the inspection outcome will not have any material impact on the earnings estimates.
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