MedPlus Health Services Limited has received multiple suspension orders for drug licenses across various locations in India, citing violations of the Drugs and Cosmetics Act, 1940 and the Drugs and Cosmetics Rules, 1945. These suspensions, which range from one to twenty-five days, have been issued by different authorities.
The breakdown of suspensions is as follows:
- Mumbai, Maharashtra: The Food and Drug Administration suspended a store’s license in Vashi, Sector-17, for twenty-five days. This is expected to result in a revenue loss of around ₹16.25 lakh.
- Warangal, Telangana: The Assistant Director of Drugs Control Administration has suspended a store’s license for six days on SVN Road, with a potential revenue impact of ₹1.47 lakh.
- Kamareddy, Telangana: Another store faces an eight-day suspension, estimating a loss of ₹1.70 lakh.
- Bidar, Karnataka: A one-day suspension was issued to a store located in Sharana Nagar, which may result in a loss of ₹0.56 lakh.
- Khammam, Telangana: A six-day suspension for a store in Khanapuram, Khammam is estimated to cause a revenue loss of ₹1.34 lakh.
Overall, MedPlus estimates a total potential revenue loss of approximately ₹21.32 lakh due to these suspensions. The company is addressing the issues as per the regulations and is expected to manage operations while complying with the directions given by the respective authorities.