Deals24 Apr 2024, 02:45 am
Medplus Health Services Ltd: Subsidiary's Drug Licenses Temporarily Suspended, Potential Revenue Loss of Rs. 65.72 Crores
AI Summary
Medplus Health Services Ltd has announced that one of its subsidiaries, Optival Health Solutions Private Limited, has received temporary suspension orders from the Drugs and Control authorities under the Drugs and Cosmetic Act, 1940 and Drugs and Cosmetics Rules, 1945. The suspensions affect three stores in Mumbai and Bangalore, with potential revenue losses amounting to Rs. 41.91 crores, Rs. 22.40 crores, and Rs. 1.06 crore, respectively.
Key Highlights
- One of Medplus Health Services Ltd's subsidiaries, Optival Health Solutions Private Limited, received temporary drug license suspensions.
- The suspension orders were initiated by the Drugs and Control authorities under the Drugs and Cosmetic Act, 1940 and Drugs and Cosmetics Rules, 1945.
- Three stores are affected: one in Mumbai and two in Bangalore.
- The potential revenue loss from the Mumbai store is Rs. 41.91 crores, and the losses from the other two stores amount to Rs. 22.40 crores and Rs. 1.06 crore, respectively.