Wockhardt issues clarification on FDA's observations for Shendra plant

Shares in Indian drug maker Wockhardt (BOM: 532300) closed down 6% Monday after the company said it expects to comply with all the US Food and Drug Administration’s (FDA) observations on its Shendra unit in two months.

The company has said the FDA observations are non-critical, without giving details on the nature of these observations. Wockhardt’s Shendra plant is a new facility that was yet to begin its supply to the US.

Last week, the US FDA made nine regulatory observations on its Shendra plant. The stock dropped 15% Friday following reports of the FDA’s adverse observations on Shendra.