Drug company Wockhardt suffered a huge blow on Wednesday with the US Food and Drug Administration (FDA) banning products shipped from its key plant located at Chikalthana in Maharashtra. This is the second plant to face US regulatory action on account of poor manufacturing standards, and the impact on the company will be significant.
In May, its facility at Waluj came under the USFDA scanner, with the regulator issuing a warning letter as well as an import alert, banning drugs from the facility.
An ""import alert"" results in the detention without physical examination of drugs from firms that have not met so-called good manufacturing practices, according to the FDA website.The company is expected to face a sharp drop in market share and delays in new launch approvals, after its second plant was hit by the FDA's ""import alert"". Echoing the drag on the company, the Wockhardt scrip slipped by over 9% to close at Rs 426 on BSE.
Source:- timesofindia.indiatimes.com
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