MUMBAI (Reuters) - Shares of drugmaker Wockhardt Ltd fell 20 percent on Thursday to their lowest level in more than seven months, after the U.S. drug regulator published an "import alert" on one of its manufacturing facilities.
The U.S. Food and Drug Administration published the alert dated May 22 on Wockhardt's Aurangabad facility in the western Indian state of Maharashtra, according to the regulator's web site.
An "import alert" results in detention without physical examination of drugs from firms that have not met so-called good manufacturing practices, according to the FDA site. It did not give the reason for the alert on Wockhardt.
Wockhardt officials could not immediately be reached for comment.
The company's shares fell 20 percent, their daily limit, to 1,313.80 rupees in a Mumbai market that was down nearly 2 percent.
(Reporting by Sumeet Chatterjee; Editing by Daniel Magnowski)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app