Sun Pharma falls 7.4% on fresh FDA alert
Sun Pharma fell 7.4 percent after the company got a warning letter from the US Food and Drug Administration (FDA) for its facility located at Halol, Gujarat.
The fresh warning letter to the company comes after the facility was first inspected by the US drug regulator in September 2014. In a release issued to BSE, Sun Pharma said: "Post the September 2014 inspection, the USFDA has withheld future product approvals from the Halol facility.
This situation may continue until all issues are resolved. Sun Pharma expects to request a re-inspection by USFDA upon completion of its remediation commitments." In intra-day trade, the stock touched a low of Rs 732, before recovering to end at Rs 755.
The fresh warning letter to the company comes after the facility was first inspected by the US drug regulator in September 2014. In a release issued to BSE, Sun Pharma said: "Post the September 2014 inspection, the USFDA has withheld future product approvals from the Halol facility.
This situation may continue until all issues are resolved. Sun Pharma expects to request a re-inspection by USFDA upon completion of its remediation commitments." In intra-day trade, the stock touched a low of Rs 732, before recovering to end at Rs 755.
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