Alkem Laboratories slips nearly 7% on receiving 8 observations from UKMHRA

NEW DELHI: Alkem Laboratories slipped as much as 6.95 per cent in morning trade on the BSE, after the drug firm said that UK health regulator has made eight observations after inspecting its manufacturing plant at Taloja, Maharashtra.

At 09:45 AM; Alkem Laboratories Ltd recouped some of the losses but was still trading 4 per cent lower at Rs 1312. It hit a low of Rs 1271 and a high of Rs 1328 in trade so far.

"The company has received inspection report from the UKMHRA on March 30 where eight observations have been made by the regulator. The company is in the process of putting together responses to address observations made by the UKMHRA in the report," Alkem Laboratories said in a regulatory filing.

The company will submit the responses within the timeline stipulated by the UKMHRA, it added. The company also added that it does not anticipate any impact on its existing registered products in the EU market.