The drug, used for treatment of heartburn, is a generic version of Novartis’ Prevacid. According to the US regulator, the Hyderabad-headquartered company recalled the product in January.
Confirming the recall, a Dr Reddy’s spokesperson said the financial implications were insignificant, being related to limited stocks.
On Thursday, its shares closed at Rs 2,734.15 on the BSE exchange, up 1.6 per cent from Wednesday’s Rs 2,690.. During the day, the shares touched a low of Rs 2691.
While such recalls are usual in global pharmaceutical markets, the development assumes significance because this is the third such recall by an Indian company in January itself. Before Dr Reddy's Laboratories, the US FDA notified similar class II recalls by Ranbaxy Laboratories and Sun Pharmaceutical Industries.
While Ranbaxy had recalled 64,626 bottles of Lipitor generic from the US market of January 16 after a potential dosage mix up was detected, Sun Pharmaceutical recalled 2528 bottles of metformin HCl extended tablets from the US on January 28.
Domestic drug makers are also already ailing in the American market due to increasing issues with their manufacturing practices. While all Indian facilities of Ranbaxy, which were earlier supplying to the US market, are now banned by the US FDA, domestic facilities of other generic drug makers such as Wockhardt, Agila Specialities, RPG Life Sciences have also come under the regulatory scanner recently for serious deviations from the manufacturing norms.
In fact, on Wednesday, the US regulator also announced a ban on imports from Sun Pharmaceutical Industries' cephalosporin manufacturing facility located at Karkhadi, Gujarat.
Drugs recalled by Indian firms in January (source: US FDA ) | ||||
Company | Drug | stocks | reason | Date of recall |
Dr Reddy’s Laboratories | Lansoprazole Delayed Release Capsules, USP 15 mg | 58,656 Bottles | Microbial contamination | 3-Jan-14 |
Ranbaxy | Atorvastatin Calcium Tablets, 10 mg | 64,626 bottles | A pharmacist discovered atorvastatin 20 mg tablet inside a sealed bottle of atorvastatin 10 mg. | 16-Jan-14 |
Sun Pharma | Metformin HCl Extended-Release Tablets, USP, 500 mg | 2528 bottles | customer complaint of some tablets of Gabapentin found in a bottle of Metformin HCl ER | 28-Jan-14 |