USFDA changes import alert on Ipca Laboratories Limited's Ratlam facility

Ipca Laboratories Limited had earlier announced about USFDA exemption from import alert for APls Chloroquine Phosphate and Hydroxycholoroquine Sulfate manufactured from Company's APIs manufacturing facility situated at Ratlam (M.P).

The US FDA vide its email dated 23rd June 2020 has communicated to the Company that shortage implications for Chloroquine Phosphate API has changed and Chloroquine Phosphate drug product is no longer in shortage and therefore, no shipment of API Chloroquine Phosphate will be excluded from the import alert.

USFDA has also informed that due to potential shortage implications and/or medical necessity, exception to the import alert has been made for API Hydroxychloroquine Sulfate. US FDA has further informed that this exception will be re-considered if the shortage implications change.

Shares of IPCA LABORATORIES LTD. was last trading in BSE at Rs.1671.85 as compared to the previous close of Rs. 1640. The total number of shares traded during the day was 16843 in over 2117 trades.

The stock hit an intraday high of Rs. 1675 and intraday low of 1644.9. The net turnover during the day was Rs. 28006534.

Source : Equity Bulls

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