Granules India Limited, in a response towards certain media articles announced that Granules USA, Inc., a wholly-owned foreign subsidiary of the Company located in New Jersey, NY, is voluntarily recalling one batch of Naproxen Sodium 220mg tablets at a retail level due to a minor "CGMP deviation". One batch has 11.4 million units of Naproxen tablets out of which 0.9 million units that were released into the market were recalled. Financially, this does not have a material impact on the Company.
"Granules manufactured and released a batch using Active Pharmaceutical Ingredient (API) from an alternate source prior to the final approval of a filed Prior Approval Supplement. We have since received the authorization to use the API for this ANDA. There was absolutely no harm done at a patient level because the API used in the batch is from an FDA approved source." said G. N. Prashanth, Senior Vice President & Head- Corporate Quality Assurance - Granules India Ltd.
Granules has not received any reports of adverse event that have been confirmed to be directly related to this recall as of the date.
Shares of Granules India Ltd. was last trading in BSE at Rs. 328.25 as compared to the previous close of Rs. 329.1. The total number of shares traded during the day was 93119 in over 2551 trades.
The stock hit an intraday high of Rs. 331.35 and intraday low of 326.15. The net turnover during the day was Rs. 30629729.