New Delhi: Cipla Ltd fell to the lowest in two weeks in Mumbai trading after ‘The Economic Times’ reported that the US drug regulator found deficiencies in its manufacturing processes.
Cipla dropped 2.98% to close at Rs223 in Mumbai trading, the lowest since 6 April.
The US Food and Drug Administration (FDA) found nine deviations in Cipla’s manufacturing processes, the newspaper reported on Monday, citing an unidentified company spokesman. The deviations are minor in nature and include incorrect data entry, the spokesman said, according to the report.
Amar Lulla, joint managing director of Cipla, didn’t immediately respond to an email seeking comment.
Separately, Cipla rejected Adcock Ingram Healthcare Ltd’s 2.13 billion rand (Rs1,214 crore) bid for Cipla Medpro South Africa Ltd.