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Strides Pharma shares plunge 8% as company suspends sales of ranitidine tablets in US

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Shares of Strides Pharma Science on Friday tumbled 8 per cent after the company said it has suspended sales of ulcer-treating tablet ranitidine in the US following the USFDA finding contamination in some of such medicines. The scrip tanked 7.43 per cent to close at Rs 304.20 on the BSE.

During the day, it dropped 9.60 per cent to Rs 297.05 -- its 52-week low. On the National Stock Exchange, it cracked 7.94 per cent to close at Rs 302.60. Strides Pharma Science on Friday said it has suspended sales of ulcer-treating tablet ranitidine in the US following the USFDA finding contamination in some of such medicines with potentially cancer-causing impurities, N-nitrosodimethylamine (NDMA). In a regulatory filing, the company said it has received an information request from the USFDA to provide test data related to NDMA impurities in ranitidine tablets. While the company conducts the relevant tests mandated by the USFDA, Strides said it "has suspended sales of ranitidine tablets in the US market until such time it has clarity of next steps as would be indicated by the USFDA"




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