New Delhi: Shares of Strides Pharma tumbled over 8% on Tuesday after the company informed about suspension of Ranitidine Tablets in the US markets. Also read: Opinion | Pill popper alertThe company predominantly sells Ranitidine tablets in the US markets, and its front end sales globally for the product were ~US$ 9 million in H1FY20. In spite of this temporary suspension of the ranitidine supplies, the Company retains its FY20 growth outlook for the US markets. Meanwhile, India’s apex drug regulator has asked its state-level counterparts to get manufacturers to test anti-acidity drug ranitidine for the impurity N-nitrosodimethylamine. “It has been reported from other countries that some ranitidine medicines contain a nitrosamine impurity called N-nitrosodimethylamine at low levels.

Source: Mint September 27, 2019 07:30 UTC