India's Panacea Biotec falls after US FDA scrutiny

Panacea Biotec

13/10/2023 05:27

** Shares of Panacea Biotec  PNCA.NS  down as much as 5.4% at
162.6 rupees, their biggest intraday pct loss since Sept. 20 
    ** Co on Thursday said the U.S. Food and Drug Administration
(USFDA) issued Form 483 with nine observations for its Baddi
unit in Himachal Pradesh
    ** Adds, will respond to the US FDA within the stipulated
time and work closely with US FDA to close the said
observations.
    ** Stock up over 18% YTD 

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))