Natco Pharma has informed that its subsidiary’s Active Pharmaceuticals Ingredients (API) Plant at Manali Industrial Area, Chennai, has temporarily suspended operations due to flooding caused by incessant rains in the plant area.
Natco said Wednesday in a press release that the Unit manufacturers a few oncology related APIs at its Manali site.
Besides several flights being canceled and total traffic collapse that engaged Indian army to help people, four people lost their lives according to Indian media.
As for Natco Pharma’s business, the company said it believes that the shutdown should not impact its pipeline launches associated with this plant.
Natco said that the Unit was also adequately insured for any losses it has incurred in fixed assets, raw materials and loss in production including work-in-progress.
“Actual losses will be assessed once this natural calamity passes by, and the plant is back in full operational mode,” the company said in a press release.
Four dead, more rain to come
Meteorologists have warned about more rain in the next four days across Tamil Nadu with possible very heavy rainfall.
Indian media also reported that four people lost their lives.