GLAXO responds to drug court Rawalpindi judgment

In a notification sent to PSX on 24/04/2024, GlaxoSmithKline Pakistan Limited (GLAXO) has announced its legal position on the GLAXO drug case judgment.

We would like to inform you that the Drug Court Rawalpindi has passed judgement dated April 22, 2024, in Case Judicial No. 4229/DC/Rwp/22 against the current and former officers of GSK under the Drugs Act 1976 related to the provision of sub-standard drugs.

GSK as well as the officers impleaded in the proceedings hereby deny any sort of wrong doing in the matter and are taking immediate steps to challenge the aforementioned judgment before the appellate forum. We would also like to inform you that GSK will keep all stakeholders abreast of any significant updates in this regard.

The shares of GLAXO were last trading at Rs. 98.89 today.