Sun Pharmaceuticals shares dip on US FDA letter
After the company received a warning letter from the USFDA for manufacturing lapses at its facility located at Halol in Gujarat.
Mumbai: The shares of Sun Pharmaceuticals slumped over seven per cent in intra-day trade after the company received a warning letter from the US Food and Drug Administration (FDA) for manufacturing lapses at its facility located at Halol in Gujarat.
The Halol facility was inspected by the FDA in September 2014, following which the regulatory agency had notified around 23 issues that were seen to be in violation of standard manufacturing norms.
According to the management, contribution of the facility is around high single digit percentage — seven to nine per cent — to its consolidated sales. Its shares of closed the day at Rs 754.45, down 4.55 per cent.
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