Medplus Health Services has reported that its subsidiary, Optival Health Solutions Private Limited, has received a two-day suspension order for a drug license at one of its stores in Telangana. The suspension was issued by the Assistant Director of Drugs Control Administration, Shameerpet, Telangana.

Suspension Details

The suspension order affects a store located in Boduppal Brundavan Colony, Telangana. According to the company's disclosure, the suspension was due to violations under Rule 65 of the Drugs and Cosmetics Act, 1940 and Drugs and Cosmetics Rules, 1945.

Financial Impact

Medplus Health Services estimates that the two-day suspension could result in a potential revenue loss of approximately Rs. 0.81 lacs for the affected store.

Regulatory Compliance

The company has promptly disclosed this information in compliance with Regulation 30 read with Para A Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This disclosure aligns with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and SEBI Circular SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024.

Company Response

Manoj Kumar Srivastava, Company Secretary & Compliance Officer of Medplus Health Services, has confirmed that the details of this matter will be available on the company's website ( www.medplusindia.com ) as well as on the websites of BSE Limited ( www.bseindia.com ) and National Stock Exchange of India Ltd. ( www.nseindia.com ).

While the immediate financial impact appears limited, this incident highlights the importance of regulatory compliance in the pharmaceutical retail sector. Investors and stakeholders may want to monitor how Medplus addresses this issue and implements measures to prevent similar occurrences in the future.

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.