Divi’s Laboratories hits 52-week low

The stock of Divi’s Laboratories has hit its 52-week low at Rs 635 on March 21. It declined 19.69 per cent in early trade, and is trading at Rs 647.05 on an intraday basis.

The United States Food and Drug Administration (USFDA) has issued an import alert for Divi’s Laboratories’ Visakhapatnam unit-II. This import alert from the regulator means that products from the facility meant for imports can be refused without a complete physical examination.

Drugs exempted from the import alert are Levetiracetam, Gabapentin, Lamotrigine, Capecitabine, Naproxen, Raltegravir and Atovaquone, Chloropurine, BOC core succinate, 2,4-wing active ester.

In December, the USFDA has issued five observations to Divi’s Vizag unit, which was inspected from November 29-December 6. The company has engaged consultants to undertake remediation of its Vizag unit.

Divi's Laboratories, along with third party consultants, is currently working to address the concerns of the USFDA. the company is making all efforts to fully meet the compliance requirements.