The United States Food & Drug Administration (USFDA) has issued seven observations to Glenmark Pharmaceuticals through form 483 for its Baddi unit. The USFDA had conducted audit at Baddi unit from November 6, 2017 to November 11, 2017.

The company is in the midst of providing a comprehensive response to the observations and would be replying to the USFDA shortly on the observations. Currently, the Baddi unit contributes approximately 10 percent of the revenue of US sales.

Shares of the company declined Rs 15.2, or 2.57%, to trade at Rs 576.00. The total volume of shares traded was 49,778 at the BSE (10.18 a.m., Tuesday).