Aarti Drugs slumps 5% as Centre levies anti-dumping duty on Ciprofloxacin Hydrochloride imports from China

The centre has imposed $0.9-$3.49 per kg on the raw material used in making antibiotics.

Sep 04, 2020 03:09 IST India Infoline News Service

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During Friday's trading session, Aarti Drugs stock has slumped by nearly 5% after clocking the lower circuit of Rs2781.75 per piece on Sensex. The performance was swayed after the government imposed anti-dumping duty on Ciprofloxacin Hydrochloride imports from China.

However, at around 3.20 PM, the Aarti Drug stock has corrected and was trading at Rs2853.30 per piece down 2.56% on Sensex.

The government has imposed the duty for six months.

Meanwhile, Godavari Drugs who also have Ciprofloxacin Hydrochloride among its API products was trading at the upper circuit of Rs38.20 per piece up 5%.

The centre has imposed $0.9-$3.49 per kg on the raw material used in making antibiotics.

In India, pharma companies like Aurobindo Pharma, Dr Reddy's Laboratories, Neuland Laboratories and Sun Pharmaceutical are some of the other producers of the antibacterial drug.

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