Divi's Lab shares slump 20% as USFDA issues import alert on Vizag unit

Drug firm Divi's Laboratories today said the US health regulator has issued an import alert on the products manufactured at one of its units in Visakhapatnam, Andhra Pradesh.

USFDA, however, exempted 10 products manufactured in the plant from the alert list.

On the BSE, the shares of the company fell to an intraday low of 20% however, they later recovered but were still 18.82% down or Rs 148.80 lower at Rs 641.90 from previous close. 

"USFDA has issued an import alert 66-40 on March 20, 2017 on the products manufactured at the company's Unit-II at Visakhapatnam, Andhra Pradesh," Divi's Laboratories said in a BSE filing.

It further said: "The agency has exempted the following products from the import alert -- Levetiracetam, Gabapentin, Lamotrigine, Capecitabine, Naproxen sodium, Raltegravir potassium, Atovaquone, Chloropurine, BOC core succinate and 2,4-wing active ester.

Divi's Laboratories said. it "along with third party consultants is currently working to address the concerns of the USFDA and is making all efforts to fully meet the compliance requirements".

Shares of the company were trading 17.60 per cent down at Rs 651.50 on the BSE.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)