More Recalls Seen For Ranitidine
Sandoz is voluntarily recalling all ranitidine hydrochloride capsules in the US because of “confirmed’ NDMA contamination, while Dr Reddy’s is suspending global shipments of the generic version of Zantac due to worries about the presence of the suspected cancer-causing agent in its products, as suppliers around the world grapple with the issue.
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GSK has sold its Vemgal manufacturing plant to Indian company Hetero Labs. GSK’s decision came after the recall of ranitidine products made in India.
GlaxoSmithKline India’s Vemgal plant, which entailed a large investment outlay, may be put on the block as part of a review of assets impacted by the recall of ranitidine over NDMA impurity concerns. The site, which has “all relevant approvals”, has not made commercial supplies yet.
Strides' newly-appointed CEO, R Ananthanarayanan, sees no reason to change course as the firm's current strategy continues to yield positive results. The company posted a 29% increase in third-quarter revenues on the back of 62% growth in the US.