Strides Pharma dips 6% after it temporarily suspends Ranitidine sales in US

The stock of pharmaceuticals company was trading lower for the fifth straight day, slipping 14 per cent, as against a 2 per cent rise in the benchmark S&P BSE Sensex during the week.

Strides Pharma Science hit a 52-week low of Rs 309 per share, down 6 per cent on the BSE, on Friday after the company announced suspension of sales of Ranitidine tablet in the US market. 

“While the company conducts the relevant tests mandated by the United States Food and Drug Administration (US FDA), it has suspended sales of ranitidine tablets in the US market until such time it has clarity of next steps as would be indicated by the USFDA,” Strides Pharma said in a regulatory filing today. READ FILING HERE

On Wednesday, the company informed