FDA blocks Teva Pharmaceuticals for violating regulations
Pharmaceuticals

U. S. Food and Drug Administration has bunged Teva Pharmaceuticals from selling veterinary drugs, citing company's animal health unit has some manufacturing troubles.

Teva Animal Health Inc., which produces generic pet drugs is said to have failed to stick to manufacturing standards.

The FDA came across "significant" violations of production standards when it inspected the company between 2007 and 2009.

The plant used to deals in drugs animals like horses, dogs, cattle, swine etc. It also used to supply ear washes, flea and tick shampoos, and antibiotics.

The FDA warned that the company could be fined $20,000 for each day, it violates the standards. In case of supply of adulterated drugs, the company would have to face $7.5 million fine a year.

According to the FDA, the company will have to fulfill the requirements to obtain FDA approval for restarting the business.

In the after-hour trading, Teva shares dropped to $53 from $53.34 on the NYSE.

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