Ipca On Tailspin After Three-Plant FDA Ban

Ipca Laboratories was pummeled on Indian bourses after the US FDA barred all but one product from three of its facilities that have been grappling with compliance-related issues, piling up more pressure on the firm.

Shares of Ipca Laboratories Ltd. were on a tailspin on Indian bourses on June 16 after the company said that the US FDA had banned products from three Indian sites. All three units have been under regulatory scrutiny over compliance deviations and had previously received import alerts and warning letters from the agency.

The FDA has now indicated that all drugs manufactured at Ipca’s formulations manufacturing units situated in the SEZ, Indore (Pithampur)...

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