5 months ago
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Natco Pharma’s active pharmaceutical ingredients (API) plant in Manali, near Chennai, has been shut temporarily in the wake of Cyclone Michaung that wrecked havoc in many places off the coast of Tamil Nadu earlier this week.
The operations of the factory, located at Manali Industrial Area, have been disrupted due to flooding / water logging. The plant has been shut down temporarily, the drugmaker said in a filing on Thursday.
API products for cancer drugs are manufactured at the site. Customers, however, will continue to be serviced uninterruptedly from the inventory of finished goods. After evaluation and following all regulatory procedures, the operations would be commenced at the earliest, the company said. It is in the process of ascertaining the loss/damage caused by the cyclone.
“The factory is adequately covered by insurance,” Natco Pharma said. The company’s shares closed less 0.45% lower at ₹782.75 each on the BSE.
