Wockhardt is trading lower by 2% at Rs 647 on the NSE after the pharmaceutical company said the regulator in Himachal Pradesh has suspended the manufacture and sale of one of its products.
“The State Drug Controller, Himachal Pradesh, has suspended the manufacture, sale or distribution of Fixed Dose Combination (FDC) Dicyclomine Hydrochloride IP 10 milligram (mg), Tramadol Hydrochloride IP 50 mg and Acetamenophen IP 325 mg,” Wockhardt said in a statement.
The company is filing an appeal before the State Government under the provisions of applicable law in order to revoke the said suspension, it added.
Wockhardt said the product contributed less than 3% to the consolidated sales of company during the financial year 2013-14.
The stock opened at Rs 642 and touched a low of Rs 632 on the NSE. A combined around 600,000 shares changed hands on the counter so far on the NSE and BSE.
“The State Drug Controller, Himachal Pradesh, has suspended the manufacture, sale or distribution of Fixed Dose Combination (FDC) Dicyclomine Hydrochloride IP 10 milligram (mg), Tramadol Hydrochloride IP 50 mg and Acetamenophen IP 325 mg,” Wockhardt said in a statement.
The company is filing an appeal before the State Government under the provisions of applicable law in order to revoke the said suspension, it added.
Wockhardt said the product contributed less than 3% to the consolidated sales of company during the financial year 2013-14.
The stock opened at Rs 642 and touched a low of Rs 632 on the NSE. A combined around 600,000 shares changed hands on the counter so far on the NSE and BSE.
