Cadila hits 52-week low post FDA inspection

Cadila Healthcare on Friday reported 14 observations by the USFDA post an inspection of its Ahmedabad plant.

The inspection conducted by the United States Food and Drug Administration (USFDA) concluded at Cadila Healthcare's formulations manufacturing facility, at Moraiya, Ahmedabad with 14 observation. The inspection was conducted from April 22, 2019 to May 3, 2019.

The company has also stated that there were no repeat observations or Data Integrity-related observations. Cadila will be addressing these observations and responding to the USFDA very soon. 

Cadila Healthcare is an India-based pharmaceutical company. The company's subsidiaries include Zydus Wellness, Liva Pharmaceuticals, Biochem Pharmaceutical Industries, Zydus Technologies, German Remedies, Dialforhealth India, Dialforhealth Unity and Dialforhealth Greencross, among others.

On Friday, the shares of Cadila Healthcare closed at Rs. 304, down by 3.55 per cent from its previous closing.  It opened at Rs. 314 and reached an intraday high of Rs. 318.75 and intraday low of Rs. 300 per share on the BSE. Its 52-week high was Rs. 432.40 and 52-week low was 300.