Medplus Health Services Limited , a prominent player in the Indian pharmacy retail sector, has reported that its subsidiary, Optival Health Solutions Private Limited, has received two drug license suspension orders in Karnataka. The suspensions, issued by the Assistant Director of Drugs Control Administration, affect two stores and are expected to result in minor revenue losses for the company.

Suspension Details

The drug license suspensions were imposed on two Optival Health Solutions stores in Karnataka:

1. A store on Ujjini Road, Kotturu:

   • Suspension duration: Two days
   • Potential revenue loss: Approximately Rs. 0.28 lakhs

2. A store on Ramakrishna Road, Hoskote:

   • Suspension duration: One day
   • Potential revenue loss: Approximately Rs. 0.78 lakhs

Regulatory Compliance

The suspensions were issued under the Drugs and Cosmetics Act, 1940 and the Drugs and Cosmetics Rules, 1945. Specifically, the action was taken under Rule 65 of the Act, which pertains to the conditions of licenses for retail sale of drugs.

Company Disclosure

Medplus Health Services Limited disclosed this information in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has made this information available on its website and on the websites of the BSE Limited and National Stock Exchange of India Ltd.

Impact Assessment

While the suspensions are expected to have a minimal financial impact on the company's operations, they highlight the importance of maintaining strict compliance with pharmaceutical regulations. The total potential revenue loss from both suspensions is estimated at approximately Rs. 1.06 lakhs.

Medplus Health Services Limited and its subsidiaries will likely review their operational procedures to ensure full compliance with all relevant regulations and to prevent similar incidents in the future.

Investors and stakeholders can access more detailed information about these suspensions on the company's official website and the websites of the respective stock exchanges.

Medplus Health Services has reported a regulatory setback for its subsidiary, Optival Health Solutions Private Limited. The company disclosed that Optival Health Solutions has received a suspension order for its drug license at a store located on Nanded road Naigaon Amravati, Maharashtra.

Suspension Details

The Assistant Commissioner & Licensing Authority of Food & Drug Administration in Amravati has suspended the license for thirty days under Rule 65 of Drugs and Cosmetics Act, 1940 and Drugs and Cosmetics Rules, 1945. The order affects the operations of a single store in the region.

Financial Impact

Medplus Health Services has estimated that this suspension could result in a potential revenue loss of approximately Rs. 6.45 lakhs for the company. While the impact is relatively small in the context of the company's overall operations, it highlights the regulatory challenges faced by pharmaceutical retail chains.

Regulatory Compliance

The company made this disclosure 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. This transparency aligns with recent SEBI circulars aimed at ensuring timely and accurate disclosure of material events to shareholders and the market.

Company Response

Medplus Health Services has stated that the details of this suspension will be available on the company's website ( www.medplusindia.com ) as well as on the websites of BSE Limited and National Stock Exchange of India Ltd.

While the immediate impact of this suspension appears limited, it serves as a reminder of the stringent regulatory environment in which pharmaceutical retailers operate. Investors and stakeholders will likely monitor how Medplus Health Services addresses this issue and works to prevent similar occurrences in the future.