Granules India in red

Granules India today issued a clarification on the presence of NDMA in the company’s product.

US FDA recently released its finding on the presence of NDMA beyond acceptable limits in certain products. With regard to this, the company has been receiving requests from few of the investors for clarification on the status of presence of NDMA in company’s products.

With reference to this , the company said that it has received communication from the US FDA stating that the US FDA has tested samples from a few lots of the company’s API and Finished dosage tablets and the results “did not detect NDMA.”

There is some ongoing activity between the company and the US FDA and the company will notify the stock exchanges as communication progresses.

The stock price is currently in the red. It opened in the positive, up less than 1% at Rs.175 and rose further by 3.5% to an intraday high at Rs.179.80 but from there, it has been on the decline and is now at Rs.171 levels, down almost 1.5%.