Comments
Shares of Indoco Remedies slumped on UK drug regulator’s observations. The drugmaker shares plunged as much as 10 per cent to Rs 217.30, lowest since October 6, 2017.
The company had said late on Tuesday that the UK drug regulator issued 3 critical and 4 major observations following inspection of its drug manufacturing facility in Goa.
Indoco Remedies manufactures solid dosages, liquid orals and external preparations at the facility, and the regulator had inspected it from March 14-16.
The stock posted its biggest intraday percentage fall since April 3, 2017; the stock is down 13.9 per cent this year as of Tuesday’s close after a 7.6 per cent rise in the previous year.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.