At the end of the inspection, the facility received two observations, one on written production process control procedure and the other on investigation procedure.

The company said that it is confident of addressing all observations within the stipulated time.

Natco Pharma is engaged in the business of pharmaceuticals which comprises research and development, manufacturing and selling of bulk drugs and finished dosage formulations. The company has manufacturing facilities in India which caters to both domestic and international markets including regulated markets like United States of America and Europe.

The company's consolidated net profit declined 12.7% to Rs 56.80 crore despite of 14.6% jump in net sales to Rs 432.10 crore in Q2 FY23 over Q2 FY22.

The scrip rose 0.34% to Rs 530 on the BSE.