Fri Sep 13 08:48:13 UTC 2024: ## Granules India Stock Plunges 13% After USFDA Issues Observations

**Hyderabad, India** – Shares of Granules India plummeted 13% on September 12th, marking the second consecutive day of losses, after the US Food and Drug Administration (USFDA) issued six observations to its Gagillapur facility in Hyderabad.

The observations, stemming from an inspection conducted between August 26th and September 6th, cited violations related to hygiene, documentation, and quality control procedures. According to CNBC-TV18, the USFDA’s Form 483 highlighted issues such as inadequate cleaning of equipment and utensils, failure to review discrepancies, and insufficient maintenance of facilities.

Despite the setbacks, Granules India stated their commitment to address the observations promptly and submit a response to the USFDA within the stipulated timeframe.

This news comes on the heels of positive news for the company in August, when their subsidiary Granules Pharmaceuticals, Inc. received USFDA approval for their Abbreviated New Drug Application (ANDA) for Glycopyrrolate Oral Solution 1mg/5mL.

Despite the recent decline, Granules India remains a popular choice among brokerages, with all seven covering the stock recommending a ‘buy’. The company’s current price-to-book (PB) ratio stands at 5x, lower than competitors Glenmark Life, Laurus Labs, and Wockhardt.

**Disclaimer:** This article is for informational purposes only and should not be considered investment advice. Consult with a financial professional before making any investment decisions.

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