Apollo Pharmacy stops selling Ranbaxy drugs
Branded drug retailer Apollo Pharmacy has temporarily stopped selling Ranbaxy medicines as a cautionary measure, according to a fresh Business Standard report.
Shobana Kamineni, executive director of Apollo Hospitals, told the publication that the company's medical committee recommended temporarily suspension of Ranbaxy medicines, saying the company could not take a chance with patients' safety.
Quoting Kamineni, the publication reported, "Our medical committee. recommended, as a cautionary measure, we should temporarily suspend sale of Ranbaxy medicines. So, we have immediately issued an advisory to our pharmacies."
The executive director also revealed that the company had asked Ranbaxy Labs to furnish some details, including re-certification of the existing stock of drugs and test reports for its other medicines.
Last month, Ranbaxy Labs pleaded guilty to felony charges in the United States related to manufacturing practices at two of its Indian facilities. The drug giant agreed to settle the charges by paying $500 million.
Apollo Pharmacy is India's biggest branded drug retail network, with more than 1,500 outlets across the country.
Ranbaxy shares slipped nearly 1 per cent to Rs 376 apiece on the National Stock Exchange (NSE) in early trade on Friday. Since the company pleaded guilty, the stock has shed 15 per cent.