Jubilant Pharmova’s stock dropped 2% following a USFDA inspection at its subsidiary, Jubilant Cadista Pharmaceuticals Inc.’s Salisbury, Maryland facility. The inspection, which took place recently, resulted in five observations, though no repeat issues were found.
In response, Jubilant Cadista plans to submit a corrective action plan within the USFDA’s required timeframe. The company had already halted manufacturing at the facility as of April 18, 2024. The USFDA’s findings were communicated on January 16, 2025.
Jubilant Pharmova’s shares opened at 914.05, reaching a high of 923.75 and a low of 902.00 during trading. The stock has experienced significant volatility over the past year, with a 52-week high of 1,309.90 and a low of 532.15. As of 9:50 AM, the shares were trading 1.96% lower at Rs 904.50.
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