Cadila Health down on 'recall'
Cadila Healthcare is down in the red today. The stock, which had closed yesterday at Rs.1586, opened lower today at Rs.1576.25 and slipped to an intra day low at Rs.1559 and it is currently at Rs.1566.
The stock slipped into the red after the company announced to US FDA that it is voluntarily recalling 15,144 bottles of drug Amlodipine Besylate tablets in the US market, its drug for hypertension. The company has mentioned anything to the stock exchanges nor on its website, this recall was known from US FDA’s website.
There, known as Zydus Pharmaceuticals USA Inc, the US-based arm of Cadila stated that it was recalling the drug due to discoloration as some brown spots were embedded in the tablets.
This US-wide recall started on 1st Oct and it was clubbed under Class-III of FDA, which is basically a circumstance where use or exposure to this product is not likely to cause any adverse health consequence.