US FDA note: Setback likely for Alkem Lab

Shares of Alkem Laboratories may come under pressure on Tuesday on USFDA observations. In a notification to the stock exchanges, the company said USFDA had conducted an inspection at the company's manufacturing facility at Baddi between March 2 and 10. It has received the inspection report which contains three 483 observations. "The company shall put together a detailed response with adequate corrective and preventive measures to address the US FDA," it said.