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LUPIN - Lupin News Story

₹1196.55 -1.8  -0.2%

Last Trade - 11:22am

Large Cap
Market Cap £5.32bn
Enterprise Value £5.52bn
Revenue £1.49bn
Position in Universe 80th / 3105

BUZZ-India's Dr.Reddy's falls after co suspends Ranitidine distribution

Mon 23rd September, 2019 7:57am
** Shares of drug manufacturer Dr.Reddy's Laboratories Ltd
 REDY.NS  fall ~4.82% to 2,701 rupees, their lowest since Sept
    ** The co is suspending global distribution of Ranitidine, a
drug used to treat stomach ulcers, as a precautionary measure,
Dr.Reddy's said in a statement
    ** This comes days after the U.S. Food and Drug
Administration (FDA) learnt
 that some Ranitidine medicines contain carcinogens at low
    ** Last week, Swiss pharma company Novartis  NOVN.S  said
its Sandoz unit had stopped distribution of all Sandoz
Ranitidine-containing medicines*:nL2N2690Q9
    ** Dr.Reddy's stock sees worst session in nearly six weeks
    ** The U.S. FDA has not asked individuals to stop using
Ranitidine, Dr.Reddy's said 
    ** As of last close, stock up 8.46% so far this year
    ** Shares of industry peers Lupin Ltd  LUPN.NS  were down as
much as 3.77 % and Sun Pharmaceutical Industries Ltd  SUN.NS 
was trading over 1% lower
    ** Dr.Reddy's among top two losers in the blue-chip index

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