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    Torrent Pharma sheds nearly 7% after USFDA sends warning letter for Gujarat facility

    Torrent Pharma sheds nearly 7% after USFDA sends warning letter for Gujarat facility

    Torrent Pharma sheds nearly 7% after USFDA sends warning letter for Gujarat facility
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    By CNBC-TV18  IST (Updated)

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    Shares of Torrent Pharma fell nearly 7 percent after the company received a warning letter from USFDA for Indrad facility in Gujarat. The stock fell as much as 6.7 percent to Rs 1,554.65 per share on BSE.

    Shares of Torrent Pharma fell nearly 7 percent after the company received a warning letter from USFDA for its Indrad facility in Gujarat. This action follows the earlier intimation received from USFDA in August 2019, wherein the agency had classified its inspection as 'Official Action Indicated' (OAI), the firm said in a BSE filing.
    Torrent Pharma shares fell as much as 6.7 percent to Rs 1,554.65 per share on BSE. At 9:30 am, the stock price was trading 5.3 percent lower at Rs 1,577.25 as compared to a 0.3 percent or 104 points fall in the BSE Sensex at 38,073.
    "We will be engaging with the agency and are fully committed in resolving this issue at the earliest. The Company is also committed to maintaining the highest standards of compliances and quality manufacturing across all its facilities," the filing added.
    The company further said that it does not believe that the warning letter will have an impact on the disruption of supplies or the existing revenues from operations of this facility.
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