Glenmark slips 4% as co recalls 3 `odd odour' drugs from US
Glenmark Pharma's generics arm has recalled multiple lots of three drugs from the US market due to an odd smell, according to the US drug regulator. The stock fell 4 percent in morning trade.
Moneycontrol Bureau
Glenmark declined over 4 percent on Friday morning after the US Food and Drugs Administration said the company's generics arm is recalling several lots of three of its drugs from the US market due to an "odd smell."The company has started voluntary recall of its Gabapentin tablets 600mg, 500-count bottle and 800mg , 500 count bottle, Pravastatin Sodium tablets 40mg, 90-count bottle and Topiramate Tablets, 200mg, 60-count bottles, the drug regulator said.Also Read: Wockhardt tanks more; Co to take $100mn hit on import alertA spokesperson told PTI news agency that the recall pertained to off-odour complaints from bottles supplied by one HDPE bottle supplier whose services have now been discontinued. The recalls will have insignificant financial implications, the spokesperson added.At 10:15hrs, Glenmark shares were down 4.2 percent at Rs 547.85 on NSE.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
