New Delhi:
Drug firm Panacea Biotec on Wednesday said a minor fire broke out at its manufacturing facility at Baddi, in Himachal Pradesh resulting in temporary suspension of work at the affected part. A minor fire incident took place on December 29, in a technical engineering floor in one of the air handling units of the soft gelatin manufacturing block in the Baddi facility, Panacea Biotec said in a regulatory filing.
The formulations manufacturing plant is owned by the company’s wholly-owned subsidiary Panacea Biotec Pharma Ltd (PBPL), it added. The fire incidence was brought under control with the help of fire control systems installed in the plant and the fire control department, the drug firm said.
There is no loss or injury to human life or damages of property due to this incidence except damages to some equipment and stocks which got wet due to water used in dousing the fire, it added. PBPL has adequate insurance coverage for such loss and has informed the insurance company about this incident, Panacea said.
While there is no impact on operations at this plant, however, as a precautionary measure, PBPL has stopped production in the said soft gelatin manufacturing block which is likely to resume in a weeks’ time after the affected area is restored, it added.
