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Hovid's shares down after licences revoked
Published on: Wednesday, January 11, 2017

Kuala Lumpur: Hovid Bhd's shares fell over 15 per cent or 5.5 sen in the early session Tuesday on the announcement that its manufacturing licences had been revoked by the Health Ministry's Pharmaceutical Services Division.

As at 10.02 am, the pharmaceutical products manufacturer's shares stood at 29 sen with 68.93 million shares traded.

Hovid was also one of the most actively traded stocks so far.

The company informed Bursa Malaysia yesterday that its manufacturing licences for the facilities at Chemor and Ipoh in Perak were revoked following an audit conducted by the National Pharmaceutical Regulatory Department (NPRA).

It said the reissuance of the licences would be subject to the NPRA being satisfied with the outcome of its audit. – Bernama

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