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Alembic Pharmaceuticals' share price falls over 4 percent in early trade on March 16 after the company received 4 observations from the USFDA.
US Food and Drug Administration (USFDA) has conducted an inspection at the company's general oral solid formulation facility located at Panelav from March 9 to 13, 2020.
This was a scheduled inspection and at the end of the inspection, the USFDA issued a Form 483 with four procedural observations.
None of the observations are related to data integrity or repetitive in nature, the company said in a release.
The company will provide a comprehensive corrective action report to address each observation.
The company is committed to maintaining highest quality standards that meet USFDA standards, it added.
At 09:27 hrs Alembic Pharmaceuticals was quoting at Rs 550, down Rs 25, or 4.35 percent on the BSE.