Divis Lab Slumps 20% After US Regulator Issues Import Alert For Vizag Plant

Divis Lab shares plunged as much as 20 per cent to its Rs 632.55 on Tuesday after the pharma company said that it has received an import alert from the US Food and Drug Administration (USFDA) on the products manufactured at company's unit-II of Visakhapatnam plant in Andhra Pradesh. Analysts say it may take 2-3 year to the company to address the concerns of the US agency over the Visakhapatnam plant, which contributes nearly 60 per c...