• Torrent Pharma tanks 6% after USFDA classifies inspection at Dahej facility as OAI

    • July 19, 2019
    • Posted By : admin
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    Torrent Pharmaceuticals shares fell more than 6 percent intraday on July 18 after the US drug regulator classified the inspection conducted at its Dahej facility in March as Official Action Initiated (OAI).

    The company said it had already submitted its initial response to USFDA and commitments given in response to Form 483 observations have been fulfilled.

    The company is sending further updates over receiving of this OAI letter, it added.

    Torrent said it will be engaging with the regulator and is fully committed in resolving this issue at the earliest.

    Company does not believe that this inspection classification will have an impact on supplies or the revenues from operations of this facility.

    The stock was quoting at Rs 1,528.45, down Rs 56.15, or 3.54 percent on the BSE at 1214 hours IST.

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