Natco Pharma's shares drop as US FDA inspects its manufacturing facilities
Shares in Indian drugmaker Natco Pharma (BSE: 524816) were 13% down on Monday after the company provided an update on the US Food and Drug Administration inspection of its manufacturing facilities.
The regulator has carried out the investigations into sites at Manali, near Chennai, and at Kothur, close to Hyderabad, in the last two months.
Natco Pharma has received Form-483 observations for both facilities, indicating that the investigators may have observed conditions that they deem to be objectionable and which may be in violation of FDA regulations.
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