Dr. Reddy's Laboratories, Inc. (RDY) and Glenmark Pharmaceuticals Recall Drugs in U.S. Over Odors
3/18/2013 7:49:49 AM
Dr Reddy’s Laboratories has recalled its anti-depression drug Citalopram from the US market, following complaints of a strong odour. Mumbai-based Glenmark Pharmaceuticals too recalled its allergy and asthma drug in February, after reports that some batches of bottle containing the Montelukast sodium tablets were emitting an odour. Dr Reddy’s generates more than 50 per cent of its revenues from the US business, where it sells a variety of products, including Para IV filings targeting patented drugs and various low-competition products. Glenmark derives over a third of its revenues from the US market, with a portfolio of more than 80 generic products. No financial impact: Both drug companies have voluntarily recalled the drugs from the US market as a precaution. A Dr Reddy’s official said the recall is being done with the knowledge of the US Food and Drug Administration (USFDA) and there would be no material financial impact from it.