USFDA places Glenmark's Baddi plant in Himachal under import alert

The USFDA has placed Glenmark's facility in Himachal Pradesh's Baddi under an import alert 66-40, which is issued when the company is not operating in conformity with current Good Manufacturing Practices. This means the company cannot send any products made out of this facility to the US. Glenmark's shares are down by 27% from their 52-week high of ₹551 apiece.