Comments
Shares of Jubilant Life Sciences Ltd (JLL) today plunged almost 10 per cent after the company said it has received a warning letter from the USFDA over violation of manufacturing norms at one of its plants located in Washington State.
The company’s stock tanked 9.96 per cent to Rs 126.05 on the BSE — its lower circuit limit.
At the NSE, the scrip plummeted 9.98 per cent to Rs 126.25.
In a statement, the company said one of its manufacturing facilities, Jubilant HollisterStier, LLC (JHS) located at Spokane, Washington state, US has been issued a warning letter by US Food and Drug Administration (USFDA).
As required by USFDA, JHS-Spokane will respond to this warning letter (WL) on or before December 12, 2013. The response will identify corrective actions already been completed as well as some pending corrective actions to ensure on-going cGMP (current good manufacturing practice) compliance, it said.
“(US)FDA specified in the WL that until all corrections have been completed and that they have confirmed correction of the violations and firm compliance to cGMPs, FDA may withhold approval of new applications or supplements listing JHS-Spokane as the drug product manufacturer,” the statement added.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.