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Cipla receives warning letter from USFDA, shares fall

Cipla receives warning letter from USFDA, shares fall

Cipla receives warning letter from USFDA, shares fall
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By Ankit Gohel  Feb 26, 2020 11:02:15 AM IST (Updated)

Shares of Cipla fell over 5 percent in the early trade on Wednesday after the company received a warning letter from the US drug regulator for its Goa manufacturing facility.

Shares of Cipla fell over 5 percent in the early trade on Wednesday after the company received a warning letter from the US drug regulator for its Goa manufacturing facility.

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The scrip touched an intraday low of Rs 401 after declining 5.75 percent on the BSE.
At 10 am, shares were trading 1.27 percent lower at Rs 419.95 apiece on the BSE.
In a regulatory filing, the company said that it has received a warning letter from the United States Food and Drug Administration (USFDA) for its Goa manufacturing facility that was inspected from September 16-27, 2019.
“The Company remains committed to maintain the highest standards of compliance and will work closely with the agency to comprehensively address all the observations,” the company statement said.
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