Granules India shares plunged over 16 percent during intraday trading on Thursday, September 12, following the company’s announcement that the USFDA’s inspection of its Gagillapur FD facility, conducted from August 26 to September 6, 2024, concluded with six observations.
In response, the company issued a statement to reassure concerned investors, emphasizing its commitment to resolving the issues raised. “We acknowledge that several investors have sought clarification, and we want to reassure them that we are actively addressing the observations and are fully committed to resolving the issues raised,” Granules India said in its stock exchange filing.
The company further noted, “At Granules, quality and compliance are paramount, and these principles are deeply embedded in our ongoing review and governance processes. We will work with the USFDA to address the issues raised in the observations.” Granules India also assured investors that it will provide timely updates on the matter.