Jubilant Life shares fall on US FDA warning letter

Wed Feb 27, 2013 2:52pm IST

Related Topics

Stocks

   
Border Security Force (BSF) soldiers ride their camels as they rehearse for the "Beating the Retreat" ceremony in New Delhi January 27, 2015. REUTERS/Ahmad Masood

"Beating The Retreat" Rehearsals

Rehearsals are on for "Beating the Retreat" ceremony which symbolises retreat after a day on the battlefield, and marks the official end of the Republic Day celebrations.  Slideshow 

REUTERS - Shares in Jubilant Life Sciences Ltd (JULS.NS) fell as much as 6.9 percent on Wednesday after U.S. health regulators issued a warning letter to the company, citing "significant violations" of manufacturing standards at its facility in Canada.

The U.S. Food and Drug Administration may hold drug approvals until Jubilant HollisterStier General Partnership takes necessary corrective steps, Jubilant said in a statement.

Other bigger Indian companies such as Dr. Reddy's Laboratories Ltd (REDY.NS), Ranbaxy Laboratories Ltd (RANB.NS), Sun Pharmaceutical Industries Ltd (SUN.NS) and Aurobindo Pharma (ARBN.NS) have all received regulatory warning letters on compliance over the last four years.

The company said its on-going manufacturing, distribution and sale of products would not be affected by the warning letter, and it plans to respond to the drug regulator on or before March 15.

Shares in Jubilant Life Sciences, which has a market value of about $548.5 million, fell 4.25 percent to 178 rupees. They earlier touched a low of 173 rupees. The Sensex was up 0.67 percent.

(Reporting by Kaustubh Kulkarni in Mumbai; Editing by Anand Basu)

FILED UNDER:
Photo

After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.

Reuters Showcase

Telecom Sector

Telecom Sector

India postpones mobile airwave auction to March 4.  Full Article 

Business Strategy

Business Strategy

Uber scraps commissions for its New Delhi taxis.  Full Article 

Currencies

Currencies

China's yuan breaks into the world's top five as payment currency - SWIFT.  Full Article 

India’s Male Tenor

India’s Male Tenor

India’s lone male tenor wants to ‘Indianise’ opera  Full Article 

Job Cuts

Job Cuts

Sony to cut 1,000 jobs in smartphone business - sources.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage