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Jubilant Life slips 4% on USFDA inspection

Shares of Jubilant Life Sciences slipped 4 per cent in early trade on Monday after the US health regulator recommended a regulatory or an administrative action after the inspection of Roorkee manufacturing facility of the drug firm, according to a regulatory filing.

The USFDA has classified the inspection of the Roorkee plant as 'Official Action Indicated', which means approvals of pending applications or supplements from this site maybe withheld, the company said.

In response to the USFDA inspection conducted at the Roorkee facility of solid dosage formulations during August 2018, "the agency has informed to classify the inspection as OAI and that approvals of pending applications or supplements from this site maybe withheld," Jubilant Life said.

However, this will not have any impact on the existing revenues from operations from this facility, it added.

The scrip was trading 4 per cent down at Rs 758.90 at around 10:34 am, while the benchmark BSE Sensex was down 1.66 per cent at 35,081.31.

Meanwhile, the shares of Jubilant Life Sciences opened at Rs 769.50 on BSE against its previous closing of Rs 790.50.

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