Market turns sluggish, Nifty dips below 8950; pharma cos fall

Market Check: The Sensex was down 85.94 points at 28898.55, while the Nifty was down 34.80 points at 8911.00. About 957 shares have advanced, 1,860 shares declined, and 161 shares are unchanged.

Cadila Healthcare gets 3 observations: Cadila Healthcare, part of Ahmedabad-based Zydus Cadila group, on Thursday, said the company got three observations from USFDA for its formulation facility at Baddi, Himachal Pradesh. The USFDA inspected the plant from February 20 to March 1. “All these three observations are related to pre-approval inspection (PAI) for a specific product filed,” the company said in a press release without naming the product.  The stock fell over 7 percent intraday following the development.