Fagron Plummets After FDA Warning Letter For Wichita Site

(Adds shares, analyst comments.)

Fagron falls as much as 16%, the most in almost nine years, after the Belgian supplier of raw ingredients to the pharmaceutical industry said it received an FDA warning letter for its Wichita site following an inspection.

KBC analysts say Fagron’s business case revolves around providing the highest-quality standards and analysts will hope for additional information an a conference call later Monday.

• NOTE: Fagron also said it initiated a voluntary, class two, batch-specific recall in good faith on Aug. 15
• Shares trim decline to 9% as of 9:47am CET

KBC (buy)

• While many of the observations ...