GLAXO denies sub-standard drugs charges, plans to appeal court decision

MG News | April 23, 2024 at 03:55 PM GMT+05:00

0:00

April 23, 2024 (MLN): The Drug Court in Rawalpindi has issued a judgment on April 22, 2024, in Case Judicial No4229/DC/Rwp/22 against current and former officers of GlaxoSmithKline (PSX: GLAXO) under the Drugs Act 1976, pertaining to the provision of sub-standard drugs.

According to a notice issued by the company on PSX today, GLAXO as well as the officers impleaded in the proceedings hereby deny any sort of wrongdoing in the matter and are taking immediate steps to challenge the aforementioned judgment before the appellate forum.

The company is engaged in the manufacturing and marketing of research-based ethical specialties and pharmaceutical products.

It is crucial to note that GLAXO is a subsidiary of S.R. One International B.V., incorporated in Netherlands, whereas its ultimate parent company is GlaxoSmithKline plc, UK (GSK plc).

At the time of writing, the company's scrip is being traded at Rs99.3, up by 94 paisa or 0.96% compared to the last close.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	158,465.06 390.15M	-1.02% -1635.97
ALLSHR	96,559.16 950.27M	-0.99% -966.38
KSE30	48,334.92 161.42M	-1.07% -524.48
KMI30	229,055.35 110.24M	-1.35% -3133.53
KMIALLSHR	63,239.37 426.71M	-1.12% -719.42
BKTi	44,632.28 59.89M	-0.70% -315.76
OGTi	31,295.76 12.54M	-0.78% -245.37

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	110,970.00	111,595.00 109,715.00	340.00 0.31%
BRENT CRUDE	64.54	64.96 64.51	-0.38 -0.59%
RICHARDS BAY COAL MONTHLY	80.50	0.00 0.00	-1.10 -1.35%
ROTTERDAM COAL MONTHLY	92.50	0.00 0.00	-0.20 -0.22%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	60.10	60.47 60.07	-0.38 -0.63%
SUGAR #11 WORLD	14.43	14.56 14.21	0.06 0.42%