Cipla slides as Pithampur unit gets 8 USFDA observations

Cipla tumbled 5.96% to Rs 964.65 after the drug major said that the US drug regulator has issued Form 483, with eight observations after inspecting its Pithampur manufacturing facility in Madhya Pradesh.

The United States Food and Drug Administration (USFDA) conducted a current good manufacturing practices (cGMP) inspection at the company's Pithampur manufacturing facility from 6 February 2023 to 17 February 2023.

In a regulatory filing, Cipla said, On conclusion of the inspection, the company has received 8 inspectional observations in Form 483. The company will work closely with the USFDA and is committed to address these comprehensively within stipulated time.

Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in our home markets of India, South Africa, North America, and key regulated and emerging markets.

The pharma major's consolidated net profit rose 9.93% to Rs 800.96 crore on 6.05% increase in total revenue from operations to Rs 5,810.09 crore in Q3 FY23 over Q3 FY22.

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