Sun Pharma shares fall on USFDA notice to Caraco
Sun Pharmaceutical shares dropped after the US Food and Drug Administration issued a warning to its Detroit-based generic subsidiary, Caraco Pharmaceutical Laboratories over some quality-control issues.
By ET Online |
MUMBAI: Sun Pharmaceutical shares dropped after the US Food and Drug Administration issued a warning to its Detroit-based generic subsidiary, Caraco Pharmaceutical Laboratories over some quality-control issues.
Until the company's responses to the observations have been clarified and explanations provided to the satisfaction of the FDA, the latter may in the near term withhold approval of pending new drug applications, Caraco said in a statement.
Caraco also said that it intends to respond promptly and timely to the FDA within 15 business days.
At 10:30 am, Sun Pharma's stock was trading at Rs 1,027, down 7.16 per cent from the previous close.
Until the company's responses to the observations have been clarified and explanations provided to the satisfaction of the FDA, the latter may in the near term withhold approval of pending new drug applications, Caraco said in a statement.
Caraco also said that it intends to respond promptly and timely to the FDA within 15 business days.
At 10:30 am, Sun Pharma's stock was trading at Rs 1,027, down 7.16 per cent from the previous close.
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