Sun Pharmaceutical Industries rose 2.85% to Rs 555.90 at 9:54 IST on BSE after the US drug regulator cleared the company's Halol manufacturing plant in Gujarat.
The announcement was made after market hours yesterday, 12 June 2018.Meanwhile, the S&P BSE Sensex was up 55.97 points, or 0.16% to 35,748.49.
On the BSE, 4.89 lakh shares were traded in the counter so far compared with average daily volumes of 6.54 lakh shares in the past two weeks. The stock had hit a high of Rs 560.75 and a low of Rs 550.10 so far during the day. The stock hit a 52-week high of Rs 608.55 on 12 February 2018. The stock hit a 52-week low of Rs 433.15 on 14 August 2017.
Sun Pharmaceutical Industries (Sun Pharma) announced that it has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for the inspection conducted at its Halol facility (Gujarat, India) during the period 12-23 February 2018. The agency concluded that the inspection is now closed and the issues contained in the Warning Letter issued in December 2015 have been addressed.
Commenting on the development, Dilip Shanghvi, managing director, Sun Pharma said that this is an important development for the company. Sun Pharma remains committed to following the highest levels of quality and 24x7 cGMP (current good manufacturing practice) compliance at all its manufacturing facilities globally.
On a consolidated basis, net profit of Sun Pharmaceuticals Industries rose 10.35% to Rs 1528.99 crore on 1.67% decline in net sales to Rs 6711.01 crore in Q4 March 2018 over Q4 March 2017.
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Sun Pharma is the world's fifth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
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