We hereby inform that the USFDA conducted an inspection of the Companys material wholly-owned subsidiary Panacea Biotec Pharma Limited (PBPL) at Baddi HimachalPradesh India between May 30 2022 and June 08 2022.At the end of inspection PBPL was issued a FDA Form 483 with eight (8) observations which are related to improvements in existing procedures and are addressable. PBPL will respond to the US FDA within the stipulated time period and work closely with US FDA to close thesaid observations and the closure of Warning Letter issued by the US FDA earlier on September 24 2020.We are committed to patient safety and quality and take quality and compliance matters seriously and stand by our commitment to fully comply with the cGMP quality standards.We request you to kindly take this on record as per the requirements of SEBI LODR Regulations and oblige.