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Sun Pharma shares continue to fall following USFDA observations at Halol Plant


Sun Pharma shares continue to fall following USFDA observations at Halol Plant

New Delhi: Shares of Sun Pharmaceutical Industries fell for the second straight session Monday, dropping almost 4 per cent after USFDA issued Form 483 with observations on inspection of its Halol facility in Gujarat. The stock fell 3.72 per cent to end at Rs 639.50 on BSE. Intra-day, it lost 4.24 per cent to Rs 636.
It was the worst performer among the 30-share basket.

On NSE, shares of the company declined 3.95 per cent to close at Rs 638.

In terms of equity volume, 6.99 lakh shares of the company were traded on BSE and over 99 lakh shares changed hands on NSE during the day.

Shares of Sun Pharmaceutical had on Friday fallen by nearly 2 per cent.

The United States Food and Drug Administration (USFDA) conducted a pre-approval inspection (PAI) of the company’s Halol facility from August 27 -31, 2018, Sun Pharmaceutical said in a BSE filing, Friday.

“At the conclusion of the inspection, the agency issued a Form 483, with six observations,” it added.

As per the US health regulator, FDA Form 483 notifies the company’s management of objectionable conditions at the facility inspected.



Source: PTI
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