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Divis Labs tanks 20% after USFDA issues import alert on Vizag unit

The stock tanked 20% to Rs 635, also its 52-week low on BSE in intra-day on back of heavy volumes.

Divis Labs tanks 20% on USFDA issue import alert for Vizag unit
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SI Reporter Mumbai
Shares of Divis Laboratories tanked 20% to Rs 635, also its 52-week low on BSE in early morning trade, after the company said US drug regulator issued an import alert on the company’s Visakhapatnam unit-II.

“The United States Food and Drug Administration (USFDA) have issued an Import Alert 66-40 on 20th March 2017 on the products manufactured at the company's Unit-II at Visakhapatnam, Andhra Pradesh,” Divis Laboratories said in a statement.

“The agency has exempted the 10 active pharmaceutical ingredients (APIs) namely Levetiracetam, Gabapentin, Lamotrigine , Capecitabine, Naproxen Sodium, Raltegravir potassium,  Atovaquone, Chloropurine , BOC core succinate and