India's Laurus Labs says four employees died in fire incident (updated)

Laurus Labs

27/12/2022 04:26

(Adds details on incident, share movement)
       CHENNAI, Dec 27 (Reuters) - Indian drugmaker Laurus Labs
 LAUL.NS  said on Tuesday that four of its employees died
following a flash fire in a room in a manufacturing block of its
plant in Visakhapatnam, Andhra Pradesh.
    One other employee is undergoing treatment in a hospital
after the incident that occurred on Monday evening, Laurus said.
    The company, which specializes in anti-retroviral, hepatitis
C and oncology drugs, said it has launched an investigation,
without giving any other specifics about the incident.
    Laurus said its other manufacturing blocks were running
normally and that it did not expect any material impact on its
operations.
    It employs over 5,700 people at more than eight facilities
including in the Indian cities of Hyderabad and Visakhapatnam,
according to a July filing.
    Laurus's shares fell as much as 2.4% in early trading on
Tuesday, before recovering to trade down 0.5%. They had already
declined about 29% so far this year.
 (Reporting by Praveen Paramasivam in Chennai; Editing by Janane
Venkatraman)
 ((Praveen.Paramasivam@thomsonreuters.com; +91 867-525-3569;))