Aurobindo shares declines 2% as US FDA issues 9 observations for Eugia Pharma’s Unit-III

Aurobindo Pharma shares experienced a nearly 2% decline following the revelation that the US FDA issued nine observations for Unit-III of Eugia Pharma’s formulation manufacturing facility. CNBC-TV18 reported this development on February 2, 2024, prompting Aurobindo Pharma, the parent company of Eugia Pharma, to temporarily halt manufacturing at Unit-III in Hyderabad on the same day.

As of 9:37 am, Aurobindo shares were trading 1.81% lower at ₹1,047.45. The market’s response reflects the immediate impact of the FDA observations on Aurobindo’s financial outlook and emphasizes the importance of addressing regulatory concerns for sustained market confidence.