Sun Pharma surges 3% on Halol unit re-inspection

NEW DELHI: Shares of drug major Sun Pharmaceutical Industries surged up to 3 per cent to Rs 687.25, as USFDA began its inspection of the company's Halol manufacturing facility.

This inspection is considered to be the most crucial for the company. Last December, Sun Pharma received a warning letter from the US drug regulatory agency. The action followed over 20 observations that were detected in 2014 as part of USFDA's routine inspections.

Over its recent call with investors, the Sun Pharma management had maintained that the remedial exercise at the site has been completed and the USFDA has been requested for a re-inspection, The Economic Times reported.


As per estimates, the Halol site that produces a range of products from tablets to nasal sprays to injectables, contributes over 15 per cent of Sun Pharma's revenues in the US.

The company's stock is down over 15 per cent so far this year.