Otsuka Pakistan halts IV Solutions manufacturing for facility upgrades
MG News | March 08, 2024 at 05:02 PM GMT+05:00
March 08, 2024 (MLN): Otsuka Pakistan Limited (PSX: OTSU) has closed its' IV Solutions manufacturing with effect from March 05 till March 31, 2024 (both days inclusive) due to the renovation/upgradation of manufacturing facilities to further improve the quality of its products.
OTSU disseminated this information through a notice on the local stock exchange.
According to the company, its profit margin will be compromised and is likely to decline by the end of this quarter due to this suspension.
"In the event that there is any further update regarding the aforesaid matter, it will be timely communicated to the Pakistan Stock Exchange as per the regulations," the company further added.
It is noteworthy that the company is an indirect subsidiary of Otsuka Pharmaceutical Company Limited, Japan and is engaged in the manufacturing, marketing and distribution of intravenous infusions and trading in pharmaceutical products, nutritional foods and medical equipment.
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