Shilpa Medicare Ltd receives warning letter from USFDA for Jadcherla facility, Telangana

Shilpa Medicare Ltd has received a warning letter yesterday i.e on 9th October 2020 at 10:06 PM (India Time) through email from the USFDA for its Jadcherla facility, Telangana.

The company said that it will be engaging with the agency and are fully committed in resolving this issue at the earliest. The Company is also committed in maintaining the highest standards of compliances and quality manufacturing across all its facilities.

The Company believes that the warning letter will have minimum impact of disruption of supplies and the existing revenues from operations of this facility.

The company currently has three manufacturing facilities approved by USFDA - One formulation facility and two API facilities. None of these facilities except Jadcherla has any outstanding issues with the USFDA at this point of time.

Shares of SHILPA MEDICARE LTD. was last trading in BSE at Rs.545.95 as compared to the previous close of Rs. 553.75. The total number of shares traded during the day was 9476 in over 661 trades.

The stock hit an intraday high of Rs. 558.55 and intraday low of 541.5. The net turnover during the day was Rs. 5193454.

Source : Equity Bulls

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