Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

Trending :

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

GLAXO’s profits surge 31% YoY in Q1 of 2024
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

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

Posted on: 2024-04-23T15:55:15+05:00