MedPlus Health Services’ subsidiary, Optival Health Solutions, has received suspension orders for drug licenses at three store locations, potentially impacting revenue.
The suspensions, issued by the Drugs Control Administration, affect stores in Karnataka, Telangana, and Andhra Pradesh. The Kempegowda Circle store in Karnataka faces a two-day suspension, leading to a potential revenue loss of ₹1.07 lakh. The Dilsukhnagar Alkapuri store in Telangana received a three-day suspension, with an anticipated revenue loss of ₹1.60 lakh. The Penuganchiprolu Main Road store in Andhra Pradesh faces the longest suspension of seven days, with a potential revenue impact of ₹2.12 lakh. These suspensions are under Rule 65 of the Drugs and Cosmetics Act, 1940, and the Drugs and Cosmetics Rules, 1945.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Business Desk and reviewed by Aman Shukla before publication.