What happened to caraco pharmaceuticals?
U.S. authorities have seized all medicines produced by generic drugmaker Caraco Pharmaceutical Laboratories Ltd (CPD.A) following repeated violations of manufacturing standards, health officials said. The drugs included generic versions of heart, pain and psychiatric medicines, Food and Drug Administration officials said on Thursday. Up to 33 different drugs may have been seized at the company’s three manufacturing plants, all located in Michigan. Drug ingredients also were being held. After the news, Caraco shares fell 43 percent to $2.39 on the American Stock Exchange. “This action follows Caraco’s continued failure to meet” manufacturing standards that assure drug quality, an FDA statement said. “Through this seizure, the FDA seeks to immediately stop the firm from further distributing drugs until there is assurance that the firm complies with good manufacturing requirements.” A Caraco spokesman could not immediately be reached for comment. Consumers now taking medicines made by Car
