Shares of Aurobindo Pharma surged over 19% in Tuesday’s session after the US Food and Drug Administration (FDA) classified violations it observed at company’s unit IV near Hyderabad as voluntary action initiated (VAI).
The US regulator had done the same on 19 February only to retract it two days later. At 3 pm, Aurobindo Pharma was trading 19.2% higher at ₹644.20 apiece on the BSE.
While the benchmark Sensex dropped 3.2%, BSE Healthcare index added 2.13%. “Further to our intimations dated 13th November 2019, 19th February and 21st February 2020 with regard to the inspection of Unit IV, an injectable manufacturing formulation facility of the Company, conducted between Nov 4th-13th, 2019, we would like to inform that US FDA has determined