Marksans Pharma hits 20% LC

Marksans Pharma has breached the 20% lower circuit at Rs.75.80. Volumes are huge at 41 lakh shares traded today alone compared to two-week average volume of over 5 lakh shares.

There was news report today morning that its Goa plant has undergone an inspection from the UK drug regulator – MHRA and it has reportedly got a notice of deficiency. MHRA is said to have found some violations in goods manufacturing practices norms.

The stock exchange asked for a clarification and the company affirmed that its Goa plant had indeed undergone an inspection from the UK drug regulator in November 2015. It also affirmed that MHRA had issued certain observations and the company was responding to the same. The company though said that exports to UK are still continuing, that has not been affected, yet.

40% of the company’s revenue comes from UK thus this is a huge matter of concern.