Divis Laboratories, a pharmaceutical ingredients and intermediates company, witnessed a sharp fall in share price on Tuesday after the company said US drug regulator issued an import alert on the company's Visakhapatnam unit-II.
''The United States Food and Drug Administration (USFDA) have issued an Import Alert 66-40 on March 20, 2017 on the products manufactured at the company's Unit-II at Visakhapatnam, Andhra Pradesh,'' Divis Laboratories (Q,N,C,F)* said in a statement.
''The agency has exempted the 10 active pharmaceutical ingredients (APIs) namely Levetiracetam, Gabapentin, Lamotrigine , Capecitabine, Naproxen Sodium, Raltegravir potassium, Atovaquone, Chloropurine , BOC core succinate and 2,4-wing active ester from the import alert,'' it added.
Shares of Divis Laboratories are trading at Rs 651.70, down Rs 139, or 17.58% at the Bombay Stock Exchange (BSE) on Tuesday at 9:52 a.m.
The scrip has touched an intra-day high of Rs 711.65 and low of Rs 635.00. The total volume of shares traded at the BSE is 1,175,708.
Total volume of shares traded on the bourses today was higher by 829.22% to 10,533,737 compared with 22-day average volume of 1,133,616.