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Ipca Labs nears 52-week low on USFDA bans import of drugs from three plants

The stock tanked 15% to Rs 437 on BSE in intra-day trade on back of heavy volumes

SI Reporter  |  Mumbai 

Ipca Laboratories tanked 15% to Rs 437 on BSE in intra-day trade after the company said the US Food and Drugs Administration (USFDA) has refused admission to all drugs made at the company's Pithampur and Silvassa facility. The stock is currently trading near to its 52-week low of Rs 435 touched on June 24, 2016. “The ban on all drugs made at Pithampur (Madhya Pradesh) and Silvassa (Dadra and Nagar Haveli) will continue "until the company can demonstrate that the drugs manufactured from these manufacturing sites and intended for the US market are in compliance with the ...

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First Published: Fri, June 16 2017. 09:55 IST
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