Cipla, Glenmark recall drugs in US due to manufacturing issues
Drug makers Cipla and Glenmark are recalling their products from the US market due to manufacturing issues.
In a regulatory filing to BSE, Cipla said that Japan’s Mitsubishi UFJ Financial Group (MUFG) has sold 2.10 per cent shares in the pharma major.
“MUFG has sold an indirect interest in Cipla Ltd on account of sale of the following entities: First State Investment Management (UK) Ltd, First Sentier Investors (Australia) IM Ltd, First Sentier Investors (Australia) RE Ltd…on January 17, 2020,” Cipla said in a BSE filing.
These entities directly holds shares in Cipla Ltd, it said.
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“The thresholds for disclosures…are met and currently, MUFG has an aggregated interest in Cipla Ltd of 3.46 per cent ordinary share capital, as on January 17, 2020 which is the date of sale. This is based on a total of 27,859, 785 shares held and a total of 806,227,596 voting rights on issue,” as per the filing.
Prior to the sale, MUFG had 5.56 per cent shares in Cipla.
The shares of Cipla Ltd were trading 0.59 per cent lower at Rs 477.30 apiece ay 1.14 pm on the BSE.
(With input from agencies)
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