Benzinga | Oct 4, 2021 02:43PM EDT

Teva Stops Production At US Plant After FDA Concerns: Report

* Teva Pharmaceutical Industries Ltd (NYSE:TEVA) has temporarily stopped drug production at its Irvine plant in California to address issues raised by the FDA after a recent inspection.

* The Company did not specify the issues raised by the agency.

* Bloomberg reported that the production halt followed Teva's recall of more than 2.5 million vials of drugs in recent months, many of them cancer medications.

* The report said the vials might have been contaminated with mold owing to water leaks discovered by FDA inspectors.

* Teva said the plant received an FDA Form 483, which lists observations of issues leading to potential FDA rule violations.

* "We have carefully reviewed the 483 and are taking extensive actions to ensure the agency's observations are fully addressed," Teva told Reuters.

* Related: Teva Recalls One Batch Of Topotecan After Complaint Of Glass Particulate In Vial.

* Price Action: TEVA stock is down 1.19% at $9.58 during the market session on the last check Monday.