Drug license of an Optival Health Store Suspended for 3 days

MedPlus Health Services Ltd has announced that its wholly owned subsidiary, Optival Health Solutions Pvt Ltd, received a suspension order affecting one of its retail pharmacy stores located in Karnataka.

Suspension Details

As per the regulatory filing, the Assistant Director of the Drugs Control Administration, Bangalore Circle–Tumkur, has suspended the drug license of a store situated at SSIT College Road in Karnataka for a duration of three days. The order was received on May 20, 2025.

The suspension has been issued under Rule 65 of the Drugs and Cosmetics Act, 1940, and the Drugs and Cosmetics Rules, 1945.

Company Statement

The disclosure was made in accordance with Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements. MedPlus stated that the details of the development will be made available on its official website and the respective stock exchange portals. MedPlus Health Services Ltd, headquartered in Hyderabad, operates one of India’s leading pharmacy chains and continues to expand its footprint while adhering to strict compliance protocols across states.

Stock Performance:

Shares of MedPlus have gained 26% in the last year, a 5.07% gain in YTD, and 10.62% in the last month.

About MedPlus Health Services

Gangadi Madhukar Reddy, Founder, Managing Director & CEO established MedPlus in 2006 with the idea of creating a trusted pharmacy retail brand that would provide a better value preposition for the consumer by leveraging technology to help reduce inefficiencies in the pharma supply chain. Dr. Gangadi As a doctor and entrepreneur himself, Mr. Gangadi is directly responsible for the overall business strategies and growth of our company.

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REF: https://nsearchives.nseindia.com/corporate/MEDPLUS_21052025185609_Intimation.pdf