Aurobindo Pharma receives EIR

Aurobindo Pharma announced of receiving an Establishment Inspection Report (EIR) with Voluntary Action Initiated (VAI) status from USFDA for its Hyderabad facility.

The inspection was held at Unit VIII, API manufacturing facility at Gaddapotharam located in Hyderabad. Previously, Aurobindo Pharma had informed the bourses that it has received a follow-up communication for the inspection conducted by US Food and Drug Administration (USFDA) at Unit IV from November 4 to November 13, 2019 which is still open and under review, by way of rescindment of 90-day VAI letter that was issued by them on February 18, 2020. This move is unprecedented and now there is an overhang on the company that it might face OAI for Unit-IV.

Headquartered in Hyderabad, Aurobindo Pharma Limited is a pharmaceutical company, manufacturing generic pharmaceuticals and active pharmaceutical ingredients.

On Wednesday, during the early morning trading session, the stock of the company was trading at Rs 510.50, up by 1.27 per cent or Rs 6.40 per share. The 52-week high is Rs 838 and 52-week low is Rs 389.70 on BSE.