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

By 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	125,627.31 258.99M	1.00% 1248.25
ALLSHR	78,584.71 1,142.41M	1.16% 904.89
KSE30	38,153.79 69.25M	0.63% 238.06
KMI30	184,886.50 91.38M	0.01% 13.72
KMIALLSHR	53,763.81 554.57M	0.54% 290.61
BKTi	31,921.68 33.15M	1.78% 557.94
OGTi	27,773.98 9.65M	-0.40% -112.21

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	107,570.00	108,105.00 107,505.00	-665.00 -0.61%
BRENT CRUDE	66.41	66.63 66.34	-0.33 -0.49%
RICHARDS BAY COAL MONTHLY	97.00	97.00 97.00	1.05 1.09%
ROTTERDAM COAL MONTHLY	107.65	107.65 105.85	1.25 1.17%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	64.74	65.02 64.67	-0.37 -0.57%
SUGAR #11 WORLD	16.19	16.74 16.14	-0.52 -3.11%