MedPlus Subsidiary Faces 15-Day Drug License Suspension in Maharashtra
Optival Health Solutions, a subsidiary of Medplus Health Services, received a 15-day suspension order for a drug license at its Nagpur store. The suspension, issued by the Assistant Commissioner & Licensing Authority of Food & Drug Administration, Nagpur, cites a violation under the Drugs and Cosmetics Act. Medplus estimates a potential revenue loss of approximately Rs. 2.29 lakhs due to this suspension.
*this image is generated using AI for illustrative purposes only.
Medplus Health Services announced that its subsidiary, Optival Health Solutions Private Limited, has received a 15-day suspension order for a drug license at one of its stores in Maharashtra.
Suspension Details
The Assistant Commissioner & Licensing Authority of Food & Drug Administration, Nagpur, issued the suspension order for a store located in Vishwakarma Nagar, Nagpur. The order cites a violation under Rule 65 of the Drugs and Cosmetics Act, 1940 and Drugs and Cosmetics Rules, 1945.
Financial Impact
Medplus Health Services estimates a potential revenue loss of approximately Rs. 2.29 lakhs due to this suspension. The company disclosed this information in compliance with SEBI regulations, specifically Regulation 30 read with Para A Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Regulatory Compliance
The suspension order aligns with recent SEBI circulars, which require listed entities to disclose such regulatory actions promptly.
Company Response
Manoj Kumar Srivastava, Company Secretary & Compliance Officer of Medplus Health Services, confirmed that the details of the suspension order will be available on the company's website as well as on the websites of BSE Limited and National Stock Exchange of India Ltd.
This incident highlights the ongoing regulatory scrutiny in the pharmaceutical retail sector and the importance of maintaining compliance with drug licensing regulations.
Historical Stock Returns for Medplus Health Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.53% | -6.38% | -6.56% | +6.97% | +14.00% | -29.81% |
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