Moneycontrol
Last Updated : Jul 13, 2018 12:40 PM IST | Source: Moneycontrol.com

Novartis down 2% after its injection manufacturer received a show cause notice

Themis has been manufacturing Diclofenac 1 ml injection under Voveran brand since 2015 and has been marketed by the Company in India based on regulatory approvals granted to them earlier.

Moneycontrol News @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Shares of Novartis India down 2 percent intraday Friday after its injection manufacturer, Themis Medicare received a show cause notice from drug licensing authority.

"Themis has intimated the company on July 12, 2018 that they are in receipt of a show cause notice dated July 11 , 2018 from the drug licensing authority at Daman, wherein they were directed to not manufacture the said product until the matter is decided, comapny said in release.

Themis has been manufacturing Diclofenac 1 ml injection under Voveran brand since 2015 and has been marketed by the Company in India based on regulatory approvals granted to them earlier.

The company has sold over 11 O million ampoules of this SKU with no serious adverse events reported.

Themis is independently pursuing a writ petition already filled by them in the Delhi High Court pertaining to the said issue.

At 11:26 hrs the share was quoting at Rs 652.50, down Rs 11.90, or 1.79 percent.
First Published on Jul 13, 2018 12:39 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant