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27 June, 2017 04:09 IST
Ipca Labs slips after USFDA bans import of drugs from 3 plants
Source: IRIS | 16 Jun, 2017, 11.12AM
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IPCA Laboratories witnessed a fall in share price on Friday after almost all drugs manufactured by the pharma company at its facilities at Pithampur, Silvassa and Ratlam have been banned from the US market by the country's health regulator.

The US Food and Drug Administration (USFDA) cited violation of current good manufacturing norms for taking the step against the company.

Shares of Ipca Laboratories (Q,N,C,F)* are trading at Rs 454.50, down Rs 58.65, or 11.43% at the Bombay Stock Exchange (BSE) on Friday at 11:03 a.m.

The scrip has touched an intra-day high of Rs 484.40 and low of Rs 437.00. The total volume of shares traded at the BSE is 538,347.

Total volume of shares traded on the bourses today was higher by 4,113.84% to 4,928,377 compared with 22-day average volume of 116,957.

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