Tuesday 20 October 2015

Drugmaker Cipla was the top Nifty loser on Tuesday,

Drugmaker Cipla was the top Nifty loser on Tuesday, falling over 4 per cent in morning TRADE. The selloff was triggered by reports that the US Food and Drug Administration (FDA) has issued 'Form 483' to Cipla's Indore facility, where drugs meant for US exports are manufactured.

According to the US regulator, Form 483 is issued to firm management at the conclusion of an inspection when the investigator has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic Act and related Acts.

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