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BUZZ-India's IPCA Labs slumps; FDA bars U.S. entry of certain drugs
June 16, 2017 / 4:47 AM / 3 months ago

BUZZ-India's IPCA Labs slumps; FDA bars U.S. entry of certain drugs

** Shares of IPCA Laboratories Ltd fall as much as 15.3 pct to 436.1 rupees, lowest since June 2016

** U.S. FDA barred entry of drugs into the United States from co’s manufacturing units at Indore, Piparia and Ratlam, co says

** All drugs, except antimalaria active pharmaceutical ingredient Chloroquine Phosphate from Ratlam unit, to be refused admission into the United States, co said on Thursday

** Admission into the United States will be denied until IPCA can show drugs from these facilities are in compliance with U.S. FDA’s current Good Manufacturing Practice regulations, co says

** Up to Thursday’s close, stock had fallen 3.36 pct this year

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