SEBI issues warning letter to Aurobindo Pharma over US FDA audit disclosures

Aurobindo Pharma said that it had received a warning letter from the Securities Exchange Board of India (SEBI).

The letter is in regards to certain disclosures made by the company on the ongoing US FDA audit of company's unit-1 and observations made by the US FDA between the period 2019 to 2022.

The SEBI warning letter observes that the company had disclosed very limited and restricted information and that the company did not disclose the detailed reasons and also did not consider-the observations of US FDA as serious.

The company has been advised to ensure compliance with all applicable provisions of SEBI Regulations and to place this warning letter before its board of directors in ensuing board meeting.

Aurobindo Pharma develops, manufactures and distributes generic pharmaceuticals, branded specialty pharmaceuticals and active pharmaceutical ingredients.

The company's consolidated net profit declined 28.1% to Rs 576.46 crore on a 3.3% fall in net sales to Rs 5,795.34 crore in Q4 FY22 over Q4 FY21.

The scrip shed 0.42% to currently trade at Rs 524.20 on the BSE.

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