Marksans Pharma Ltd recalls further lots of Metformin Hydrochloride tablets

Marksans Pharma Limited is voluntarily expanding its earlier initiated recall on June 05, 2020 to include an additional 76 unexpired lots of Metformin Hydrochloride Extended Release Tablets, USP 500 mg & 750 mg due to NDMA content in some lots is observed exceeding the acceptable Daily Intake Limit (ADI) of 96ng/day, therefore, out of an abundance of caution, an additional 76 lots are being recalled.

NDMA is classified as a probable human carcinogen (a substance that could cause cancer) based on result from laboratory test. NDMA is a known environment contaminant found in water and foods including meats, dairy products and vegetables.

Metformin Hydrochloride Extended Release Tablets, USP 500 mg & 750 mg are indicated as an adjunct to diet and exercise to improve blood glucose control in adults with type 2 diabetes mellitus.

Marksans Pharma Limited is further continuing manufacturing and distribution of this product on ongoing basis by placing the appropriate corrective actions proactively. For the last year ended 31st March 2020, the exports to USA for the Metformin Extended Release Tablets were of USD 1.43 million only which constitutes less than 1% of our Consolidated Revenue.

Shares of MARKSANS PHARMA LTD. was last trading in BSE at Rs.51.75 as compared to the previous close of Rs. 50.3. The total number of shares traded during the day was 344081 in over 2102 trades.

The stock hit an intraday high of Rs. 52.45 and intraday low of 49. The net turnover during the day was Rs. 17446920.

Source : Equity Bulls

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