Australia's Vitura Health set for record drop on potential ops hit on deal fallout

Taro Pharmaceutical Industries

23/04/2024 01:49

** Shares of Australia's Vitura Health  VIT.AX  fall as much
as 42.5% to A$0.092, set for worst intra-day drop ever, if
losses hold
    ** Co says it has received confirmation from marijuana firm
Code4 Cannabis of its intention to terminate services agreement
with VIT's unit
    ** Says if Code4 Cannabis ceases to provide services under
deal, it might materially affect co's operations
    ** VIT does not agree with Code4 Cannabis that the latter is
entitled to terminate the agreement
    ** VIT and its unit have now issued proceedings to prevent
Code4 from withholding services
    ** Stock hits lowest since Nov. 2020
    ** Stock has fallen 37.3% this year as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))