SMS Lifesciences India Ltd have been manufacturing Ranitidine HCL (API) since 1990 and currently selling it to various markets except for USA (USDMF grade) and EU (CEP grade). Recently, USFDA and EMA have become aware of the presence of NDMA (N-Nitrosodimethylamine), a carcinogenic impurity, at low levels in some Ranitidine API products. USFDA in a statement on September 13th, informed that they are evaluating the presence of this impurity and the impact (if any) of this impurity on patients.
Since, we are one of the major manufacturers of Ranitidine API in the world, we are evaluating our Ranitidine product and its processes to ensure that our API is void of this NDMA impurity or are within permissible limits.
The company currently foresee business as usual, but shall update on any regulatory news/findings that can have a material impact on business.
Shares of SMS Lifesciences India Ltd was last trading in BSE at Rs.441.7 as compared to the previous close of Rs. 466.1. The total number of shares traded during the day was 1101 in over 114 trades.
The stock hit an intraday high of Rs. 479.8 and intraday low of 440. The net turnover during the day was Rs. 503147.