Shilpa Medicare share price falls nearly 11% on import alert from USFDA

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The share touched its 52-week high Rs 692.45 and 52-week low Rs 240.30 on 11 August, 2020 and 31 March, 2020, respectively.

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Shilpa Medicare share price fell nearly 11 percent intraday on February 18 after the company received import alert from USFDA.

The company has received an Import Alert 66-40 on February 17, 2021, pursuant to the USFDA inspection of the Unit 4, Jadcherla, Telangana facility from Feb 13 – 20 and Feb 24-25, 2020, company said ibn the release.

Three products have been exempted from the Import Alert – Azacitidine for Injection, Cyclophosphamide Capsules and Erlotinib Tablets.

We are committed to address the concerns raised by the USFDA and will work with the US FDA to resolve these issues at the earliest, company said.

We uphold quality and compliance with utmost importance and are committed to maintaining cGMP and quality standards across all Shilpa facilities, it added further.

shilpa

At 14:44 hrs Shilpa Medicare was quoting at Rs 387.00, down Rs 37.85, or 8.91 percent on the BSE.

The share touched its 52-week high Rs 692.45 and 52-week low Rs 240.30 on 11 August, 2020 and 31 March, 2020, respectively.

Currently, it is trading 44.08 percent below its 52-week high and 61.15 percent above its 52-week low.