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The API business reported a 10 percent growth in revenues, reaching Rs 322 crores in the quarter

Business Standard

Pharma, medicine, pharmaceutics

Alembic Pharmaceuticals on Wednesday said flash floods in the Teesta River has led to disruption in operations at its Sikkim-based manufacturing plant.
"We would like to inform that due to flash floods in river Teesta because of cloud burst, water entered our manufacturing facility at Namthang, South Sikkim, and hence manufacturing operations stand disrupted with effect from October 4," the drug firm said in a regulatory filing.
There is no loss or harm caused to any personnel, it said, adding that the assessment of loss will take a while.
All assets of the company are adequately insured and necessary intimations have been given to insurance companies, it added.
A sudden cloud burst over Lhonak Lake in North Sikkim has resulted in flash floods in the Teesta in Lachen valley, which was compounded by the release of water from a dam.
Shares of Alembic Pharma were trading 1.31 per cent down at Rs 780.50 apiece on the BSE.

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Alembic Pharmaceuticals' revenue surges 8.17%, PAT up 3.21% in Q2FY24

Manufacturing disrupted at Sikkim plant due to flash floods: Alembic Pharma