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Aurobindo Pharma snaps 12-day winning streak after USFDA update on subsidiary's API unit

Reported by: CNBC TV18 ·

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Aurobindo Pharma

Summary

CNBC TV18 reported that Aurobindo Pharma shares fell nearly 2%, snapping a 12-day run of gains, after the US FDA issued a Form 483 with a VAI classification for the API manufacturing facility of its subsidiary Apitoria Pharma Private Limited. A Form 483 is a list of observations the US drug regulator issues after inspecting a plant; VAI, or Voluntary Action Indicated, is a classification meaning the issues found do not call for immediate enforcement. API stands for active pharmaceutical ingredient, the main chemical in a medicine. The report did not give the number of observations or say what they were about.

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CNBC TV18  · · Tone 0

Aurobindo Pharma snaps 12-day winning streak after USFDA update on subsidiary's API unit

Aurobindo Pharma shares fell nearly 2% after the US FDA issued a Form 483 with a VAI classification for its subsidiary Apitoria Pharma Private Limited's manufacturing facility.

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