Shares of Medplus Health Services Ltd rallied 5% on 16 February after the company’s subsidiary’s drug licence for a Mumbai store was suspended.

In its regulatory filing, the company said that the Food and Drug Administration, Thane had issued a suspension of the drug licence for the store situated at Khopat Thane for 15 days for the violation of the licence issued pursuant to provisions of Section 65 / Rule 65 of Drugs and Cosmetics Act, 1940 and Drugs and Cosmetics Rules, 1945.

In January, the company received orders from the assistant director and drug sales licensing authority of the Drug Control Administration, Mahabubnagar TS, for the suspension of licence for the store Shankarayapally Jadcherla for six days and another store licence suspension for seven days for a store at HayathNagar.

In December, a subsidiary of the company received orders from the assistant director of the drug sales licensing authority and drug control authorities from various locations.

At 10:56 am, the shares of Medplus Health were trading 5.03% higher at Rs 668.75 on NSE.