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BUZZ-India's Indoco Remedies slumps to near 3-yr low on FDA concerns
April 3, 2017 / 4:40 AM / 8 months ago

BUZZ-India's Indoco Remedies slumps to near 3-yr low on FDA concerns

** Indoco Remedies Ltd shares fall as much 16.32 to 208.50 rupees, their lowest since July 30, 2014

** US Food and Drug Administration (FDA) raises six observations in the form 483 for Goa manufacturing facility inspected last year

** FDA accepts co’s response on four observations, but raises concerns over the remaining two

** Observations relate to a specific product for which co is contract manufacturer

** Stock posts biggest intraday pct loss since June 12, 2015

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