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EQDM suspends certificate of suitability for 3 drugs of Anuh Pharma; scrip down 1%

European Directorate for the Quality of Medicines (EDQM) Ad Hoc Committee suspended the certificate of suitability for three of the company’s drugs. The company said that the suspended drugs account for less than 3% of European sales.

March 16, 2016 10:20 IST | India Infoline News Service
Shares of Anuh Pharma are currently trading 1% lower at Rs. 214 after the European Directorate for the Quality of Medicines (EDQM) Ad Hoc Committee suspended the certificate of suitability for three of the company’s drugs.

Erythromycin Ethyl Succinate, Erythromycin and Pyrazinamide are manufactured at the company’s Boisar unit. The European regulator has also decided to close the application for a certificate of suitability of Erythromycin Stearate.“According to the resolution, they have given us the possibility to request a hearing in order to ask the EDQM Ad Hoc Committee to review its decision,” the company said in a statement. However, Anuh Pharma said that the abovementioned drugs account for less than 3% of European sales of the company.

The scrip opened at Rs. 209.6 and has touched a high and low of Rs. 226.6 and Rs. 199.1 respectively. So far 76191(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 539.21 crore.

The BSE group 'XC' stock of face value Rs. 5 has touched a 52 week high of Rs. 414.75 on 12-Aug-2015 and a 52 week low of Rs. 153.37 on 27-Mar-2015. Last one week high and low of the scrip stood at Rs. 260.9 and Rs. 210.1 respectively.

The promoters holding in the company stood at 70.68 % while Institutions and Non-Institutions held 0.06 % and 29.26 % respectively.

The stock is currently trading above its 200 DMA.

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