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Piramal Enterprises rises 2% as SC exempt Saridon from list of banned FDCs

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Shares of Piramal Enterprises rose 2 per cent on Thursday after the Supreme Court of India (SC) ruled in favour of company drug, Saridon.

The Supreme Court of India has ruled in favour of Saridon by exempting its formulation from the list of banned FDCs (Fixed Dose Combinations).

In September 2018, Piramal Enterprises had been awarded a stay order from the Supreme Court on the ban, which allowed it to continue manufacturing, distribution, and sale of the FDC.

Nandini Piramal, Executive Director, Piramal Enterprises Limited said, “We are pleased with the Supreme Court ruling, as it is an affirmation to our commitment to provide effective and safe healthcare solutions that address unique needs of Indian consumers.”

Piramal Enterprises closed at Rs 2,240.15, up Rs 44.05 on Thursday.

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