Shares of Ranbaxy fell over 2 percent in early trade on Tuesday as it has temporarily suspended shipment of pharmaceutical ingredients produced at its Toansa and Dewas plants.
“The company is currently examining processes and controls at all company's Active Pharmaceutical Ingredients (API) manufacturing and quality units. This action has led to temporarily putting on hold shipments from company's API facilities of the Toansa and Dewas Plants,” it said in a statement to the BSE.
The drug major said that it is a voluntary decision as a precautionary measure to better to assess and review the processes and controls. It has also formed ‘quality & integrity committee' to help and assure good governance to all Ranbaxy stakeholders.
Its primary role is to provide oversight on the company's manufacturing and quality operations, systems, organisation and integrity, the Japanese drugmaker Daiichi Sankyo’s Indian arm said. Earlier, in January US Food and Drug Administration USFDA) had banned Ranbaxy’s Punjab-based Toansa Active Pharmaceutical Ingredients (API) plant. Toansa is the fourth unit of the company which is banned and added to consent decree. With that, all of the company's India-based plants supplying to US were banned.
Its Ohm Laboratories, the only plant which has USFDA approval, manufactures drugs using API from Toansa. Slew of brokerages had downgraded the stock following the drug regulator’s ban.
Source: Latest News in Hindi
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