Lupin logo

LUPIN - Lupin News Story

₹1196.55 -1.8  -0.2%

Last Trade - 11:22am

Sector
Healthcare
Size
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
13
    ** 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 https://www.fda.gov/safety/medwatch-safety-alerts-human-medical-products/zantac-ranitidine-safety-information-ndma-found-samples-some-ranitidine-medicines
 that some Ranitidine medicines contain carcinogens at low
levels
    ** Last week, Swiss pharma company Novartis  NOVN.S  said
its Sandoz unit had stopped distribution of all Sandoz
Ranitidine-containing medicines  urn:newsml:reuters.com:*: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
    

 ((Chandini.M@thomsonreuters.com; 910867497919;))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.