Sun Pharma suffers as USFDA seizes medicines from unit

MUMBAI: Shares of Sun Pharmaceuticals dropped sharply amid reports that the US FDA authorities seized all medicines produced by its unit Caraco Pharmaceutical following repeated violations of manufacturing standards.

According to the report, US FDA seized 33 drugs from Michigan facility of Caraco, a subsidiary of Sun Pharma, which could impact Caraco's US sales by 6-7%.

At 11 am, the stock was trading 12.74 per cent lower at Rs 1133 on the BSE after dropping to a low of Rs 1070 in early trade.