Lincoln Pharma locked in 20% LC
By
Research Desk
about 9 years ago
Lincoln Pharma was locked on the 20% lower circuit at Rs.179.20. The company announced today morning that its largest selling injection, used to treat bacterial infections, chloramphenicol sodium succinate, has been banned in Tanzania. That’s not all – the company’s registration has also been cancelled.
The company added that "in this circumstance a huge quantity dispatched to Tanzania has (been) kept on hold there and the authority has issued a notice to destroy the product.”
The company did not give reasons as to why the product was banned but this is not good news at all for Lincoln Pharma.