Aurobindo Pharma jumps 5% on reports of USFDA clearing Unit-4 facility

NEW DELHI: Shares of Aurobindo Pharma jumped nearly 5 per cent on Tuesday after ET NOW reported that the pharma major had received Establishment Inspection report (EIR) for Unit-4 facility in which the USFDA has closed issued Form 483.

The Form 483 is issued to a firm's management at the conclusion of an inspection when an investigator(s) has observed any conditions that may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.

The scrip hovered at Rs 785.15, up 4.85 per cent at around 11:15 am while the benchmark BSE Sensex was up 1.18 per cent at 37,492.90.

USFDA had inspected the Unit-4 facility in December and had issued Form 483. The USFDA had issued two observations for the Unit-4 facility.

Meanwhile, the shares of Aurobindo Pharma opened at Rs 752.90 on BSE against its previous closing of Rs 748.80.