Published on 6/12/2017 12:24:37 PM | Source: Dion Global Solutions Ltd

Shilpa Medicare dips nearly 6% on USFDA observations

Shares of Shilpa Medicare plunged nearly 6 per cent on the Bombay Stock Exchange after drug maker said that it has received Form 483 with 10 observations from the United States Food & Drug Administration (USFDA) in relation to SEZ Formulation Facilities situated in Jadcherla, Telangana. Weighed down by the development, shares of company declined as much 5.62 per cent to touch an intra-day low of Rs 599.25 apiece on the Bombay Stock Exchange.

In a similar fashion, shares of the company were trading 5.02 per cent lower at Rs 606.00 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 32,643.89, down 158.55 points, or 0.48 per cent, at 11:48 hours.