MUMBAI, May 24 (Reuters) - Shares in India's Wockhardt Ltd
plummeted as much as 19.3 percent on Friday to their
lowest since August 2012, continuing to reel for the second day,
after the U.S. Food and Drug Administration imposed an "import
alert" on a plant operated by the generic drugmaker.
Wockhardt shares had already slumped by their daily limit of
20 percent on Thursday on the U.S. FDA action.
An "import alert", effectively a ban, results in detention
without physical examination of drugs from firms that have not
met so-called good manufacturing practices, according to the FDA
Wockhardt said the FDA's action potentially affects $100
million in revenue on an annualised basis, but said it should be
able to restore most of that within 6 to 9 months by shifting
production to other facilities.
Wockhardt shares were down 8.7 percent as of 0422 GMT.
(Reporting by Abhishek Vishnoi; Editing by Gopakumar Warrier)