USFDA smack; Sun Pharma falls 3 %
DSIJ Intelligence / 21 Apr 2017
The following observations have surfaced as a threat to the company, as the company's biggest plant at Halol with about 40 per cent contribution to the US sales is already under import alert.
Following reports of Sun Pharma receiving 11 observations from the US food and drug administration (USFDA), along with the finding of incomplete lab records at the pharma major's Dadra unit, the stocks of the company took a plunge of nearly 3 per cent on April 21, 2017.
The Dadra unit is one of the largest units of the company, facilitating the company's supply of drugs in the US.
The following observations have surfaced as a threat to the company, as the company's biggest plant at Halol with about 40 per cent contribution to the US sales is already under import alert.
However, the USFDA has stated that the administration will lift the import alert imposed on the company's Mohali manufacturing facility, also removing the unit's mention on the official action initiated (OAI) status.
At present, Sun Pharma is trading at Rs 642.90, down by 1.99 per cent on the BSE on April 21, 2017 at 11:03 hrs IST.
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