USFDA Spots Defects at Cipla Plant, Stock Falls
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20 April 2009
Shares of Cipla took a beating on Monday amid reports that the US Food and Drug Administration found nine deviations in the drug maker’s manufacturing process during a recent inspection of the company’s Bangalore plant.
The company, however, has said that the deviations are minor ones relating to manufacturing practices.
At noon, the company’s shares recouped some of its early losses but were still trading down 2.76 per cent at Rs 223.50 on the BSE. The stock fell as much as 8 per cent in early trade.