Jagsonpal Pharmaceuticals shares fell over 2% after the US Food and Drug Administration (USFDA) issued a warning letter citing significant manufacturing lapses at its Rajasthan-based active pharmaceutical ingredients (API) plant. The regulatory concerns have raised alarms among investors, impacting stock performance.
The USFDA inspected the company’s Bhiwadi-based facility on March 20, March 27, and April 3, 2024. The agency found that Jagsonpal Pharmaceuticals failed to comply with Current Good Manufacturing Practices (CGMP), leading to the classification of its API as adulterated. The warning letter highlighted serious deficiencies in the company’s quality control systems and a failure to ensure CGMP compliance at its contract manufacturing facility.
A USFDA warning letter typically identifies critical violations, including poor manufacturing standards or misleading product claims. The regulator has directed Jagsonpal Pharmaceuticals to address these issues within a specified timeframe, after which it will reassess the company’s corrective actions.
Jagsonpal Pharmaceuticals’ stock opened at ₹215.90, reaching a high of ₹217.40 and a low of ₹210.03 during the trading session. The stock has seen significant movement over the past year, with a 52-week high of ₹328.04 and a low of ₹109.44.
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