Tuesday, 21 March 2017

US ban on Divi’s Labs may dent profitability by up to 25%

Stocks of Hyderabad based drug firm Divi's LaboratoriesBSE -1.60 %, once a darling of stock investors, were hammered after news that the US Food and Drug Administration (USFDA) had raised several questions regarding quality controls at the company's Visakhapatnam unit that fetched nearly 70% of its revenues.

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