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

News Image

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 138,696.66
256.88M
1.70%
2316.69
ALLSHR 85,778.30
660.78M
1.33%
1129.95
KSE30 42,337.06
88.60M
1.90%
790.84
KMI30 195,348.94
93.60M
1.89%
3629.17
KMIALLSHR 56,465.57
381.24M
1.14%
637.84
BKTi 38,496.86
13.97M
1.77%
669.25
OGTi 27,802.94
11.52M
0.48%
132.26
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,300.00 119,915.00
118,035.00
-330.00
-0.28%
BRENT CRUDE 68.49 69.01
68.27
-0.03
-0.04%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
0.95
0.99%
ROTTERDAM COAL MONTHLY 104.50 0.00
0.00
-0.65
-0.62%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.53 66.99
66.29
0.15
0.23%
SUGAR #11 WORLD 16.80 16.84
16.54
0.24
1.45%

Chart of the Day


Latest News
July 17, 2025 at 02:52 PM GMT+05:00

SLCL signals revival with credit settlements underway


July 17, 2025 at 02:42 PM GMT+05:00

Fateh Sports Wear looks to resume operations soon


July 17, 2025 at 01:47 PM GMT+05:00

OMO Result: SBP injects over Rs902bn


July 17, 2025 at 01:03 PM GMT+05:00

Global value chains drove growth in developing nations



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg