Please Share:: India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Visit http://indiaer.blogspot.com/ for complete details �� ��
Aurobindo Pharma (ARBP IN, INR 166, Buy)
n FDA issues import alert on Unit VI facility (Cephalosporin block)
The FDA has imposed an import alert on Aurobindo Pharma’s (ARBP) Unit VI following deviations observed during an inspection in December 2010. The unit (A&B block) manufactures Cephalosporin API as well as formulations (sterile and oral). Under the import alert, the company will not be able to ship any products to the US from the unit nor will it get new approval filed out of it. Management has indicated that though it has not received any official communication from the FDA, ARBP is committed to its US operations and expects resolution of the issue in the next three-four months. Historically, the company has had a good track record with FDA and had not been issued any warning letter or import alert for any of its facility.