Alkem Lab shares dip 7% on UKMHRA observations

Mumbai: Shares of Alkem Laboratories on Friday fell by 7 percent as the UK health regulator made eight observations after inspecting its manufacturing plant at Taloja, Maharashtra.

The stock after a weak opening further lost 6.98 percent to Rs 1,271 at BSE.

On NSE, it slumped 6.37 percent to Rs 1,270.

The Medicines and Healthcare Products Regulator Agency (UKMHRA) had conducted an inspection at the company's facility at Taloja earlier last month with respect to marketing authorisation applications made by the company to the EU countries.

"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," Alkem Laboratories had said in a regulatory filing yesterday.

"The company does not anticipate any impact on its existing registered products in the EU market," it said.