Torrent Pharma stock falls over 6%
Posted by :- Rupa Roy
Torrent Pharma stock fell over 6% intraday after the US drug regulator classified the inspection conducted at its Dahej facility in March, 2019 as Official Action Initiated (OAI)
The company in the submitted regulatory filing stted that it issending further updates over receiving of this OAI letter and plans to engage with the regulator for resolving this issue at the earliest.
It added that the pharma giant has already had submitted its initial response to USFDA and commitments given in response to Form 483 observations have been fulfilled, and further stated that it does not believe that this inspection classification will have an impact of disruption of supplies or the revenues from operations of this facility.
Stock has fallen 6.13% to a intraday low of Rs 1,487.45 against the previous close of rs 1584.60 and trades below than 5, 20, 50, 100 and 200 day moving average.