Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Glenmark receives warning letter for Baddi manufacturing facility in Himachal Pradesh

Posted On: 2019-10-05 12:00:24

Glenmark Pharmaceuticals Ltd has announced in relation to an inspection conducted by the USFDA between April 15, 2019 to April 20, 2019 at the company's Baddi facility in Himachal Pradesh, India. The company had earlier announced that the inspection was classified as an "Official Action Indicated" vide a letter by the USFDA. With regards to the same inspection, the USFDA has now issued a "Warning Letter" to  the Baddi facility. The company is committed  to work along with the USFDA to implement all the necessary corrective actions required to address the concerns raised in the letter and is in the process of preparing a detailed response to the USFDA within 15 working days.

The existing manufacturing and the sale of products from this facility will not be impacted. The Baddi facility is expected to contribute USD 30mn in total sales for this financial year which is approximately 7% of the total US sales. There are no major pending approvals from this facility in the next 12 months. There will be no financial impact on the organisation on account of this development. Glenmark currently has eight manufacturing facilities approved by the USFDA - five formulations facilities and three API facilities under Glenmark Life Sciences Limited. None of these facilities except Baddi has any outstanding issues with the USFDA at this point in time.

Shares of GLENMARK PHARMACEUTICALS LTD. was last trading in BSE at Rs.315.65 as compared to the previous close of Rs. 319.5. The total number of shares traded during the day was 32862 in over 771 trades.

The stock hit an intraday high of Rs. 329 and intraday low of 314.95. The net turnover during the day was Rs. 10535880.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Rain Industries Ltd Q4 Consolidated PAT climbs to Rs. 114.76 crore

Affle to acquire Mediasmart, a mobile programmatic and proximity marketing company in Europe

India Motor Parts & Accessories Ltd Board declares Interim Dividend of Rs. 10

CreditAccess Grameen Ltd allots 800 NCDs

Birla Precision Technologies Ltd board to consider allotment of 2322007 shares

Brickwork Ratings update on JSW Energy Ltd's credit rating

PNC Infratech Limited board to consider interim dividend on Mar 9, 2020

TVS Electronics Ltd board to approve interim dividend for FY20

JK Cement Ltd board declares interim dividend of Rs. 7.50

Sudarshan Chemical Industries Ltd Board approves interim dividend of Rs. 6.30

PNC Infratech Received LOA from NHAI for HAM Project of Rs. 1602 crore

Manaksia Ltd board declares interim dividend of Rs. 7.50 for 2019-20

Siyaram Silk Mills Ltd board to consider 2nd interim dividend on Mar 7, 2020

Pidilite Industries Ltd board to consider interim dividend on Mar 5, 2020

HUDCO approves annual resource programme of Rs. 28000 crore

Shanthi Gears Ltd board declares interim dividend of Rs. 2

Hexaware Hosts the Digital Insurance Practitioner Summit 2020 at New York

ONGC board to consider interim dividend on Mar 4, 2020

Aban Offshore Limited updates on CARE ratings

Dr. Reddy's Laboratories Ltd gets 2 observations for Formulations Plant - 3 at Bachupally, Hyderabad

National Fertilizers Ltd board to consider interim dividend on Mar 9, 2020

Varanasi gets its first Shoppers Stop!

Motherson Sumi Systems Limited board declares interim dividend of Rs. 1.50

Future Supply Chain Receives ISO 22000 Food Safety Management System Certification

TCS Recognized as a Leader in Property & Casualty Insurance Application and Digital Services by Everest Group

Orbit Exports Ltd board to consider interim dividend on Mar 6, 2020

Visaka Industries Ltd board approves 2nd interim dividend of Rs. 5

Deccan Cements Ltd board approves interim dividend of Rs. 4

KIOCL Ltd receives environmental clearance for Non-Recovery Coke Oven Plant with Cogen Captive Power Plant and DISP

Apar Industries Ltd board declares interim dividend of Rs. 9.50

Heritage Foods Ltd to sell all tangible assets of dairy plant in Punjab

PVR Ltd board declares interim dividend of Rs. 4

Faze Three Autofab Limited's rating outlook revised to 'Stable'; ratings reaffirmed

CARE revises credit ratings of Shakti Pumps India Ltd

Insilco Ltd update on suspension of plant operations

Tribhovandas Bhimji Zaveri Ltd board to consider interim dividend on Mar 11, 2020

AIA Engineering Ltd board to consider interim dividend for FY20

Supreme Industries Ltd board declares 2nd interim dividend of Rs. 10

Caplin Point Laboratories Ltd board to consider interim dividend on Mar 4, 2020

TVS Motor Company inaugurates its flagship showroom in El Salvador

L&T-built Fifth Offshore Patrol Vessel ICGS Varad Commissioned for Indian Coast Guard

Tube Investments of India Ltd Board approves interim dividend of Rs. 3.50 for FY20

Shriram Transport Finance Company Ltd to consider fund raising proposal

Kanchi Karpooram Ltd board to consider interim dividend on Mar 9, 2020

NTPC commissions 250 MW unit of Barauni Thermal Power Station Stage-II

Godrej Properties adds a new residential project in Chandivali, Mumbai

HCL Foundation announces winners of fifth edition of HCL Grant

KSB Ltd Q4 PAT rises to Rs. 30.5 crore

IndusInd Bank Ltd approves appointment of Mr. Sumant Kathpalia as MD & CEO

IndiGo partners with HDFC Bank to launch its first credit card 'Ka-ching', powered by Mastercard







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019