A flash fire in a room in a manufacturing block of Indian pharmaceutical company Laurus Labs’ plant in Visakhapatnam resulted in the deaths of four of its employees, the company reported on Tuesday.
According to Laurus, ‘one more worker is receiving medical attention in a hospital as a result of the incident that happened on Monday night.’
Without providing any other information on the occurrence, the company, which specialises in anti-retroviral, hepatitis C, and oncology drugs, said it had started an investigation.
Laurus reported that all of its other production units were operating regularly and that it did not anticipate any significant effects on its business.
A filing from July says, ‘it employs more than 5,700 workers across more than eight locations, including those in the Indian cities of Hyderabad and Visakhapatnam.’
The price of Laurus’s shares initially dropped as much as 2.4% on Tuesday before recovering to close at a loss of 0.5%. So far this year, they have already experienced a 29% drop.
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