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Sun Pharma falls 6 pct on surprise inspection reports

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Reuters
Last Updated : Sep 11 2014 | 11:00 AM IST

Reuters Market Eye - Sun Pharmaceutical Industries slumps as much as 6 percent, heading towards its biggest single day fall since March 16, 2012.

*Ranbaxy Laboratories also fell as much as 6 percent.

* Media reports say surprise inspection by U.S. drug regulator on its Halol plant in Gujarat.

* A company spokesman said, "We have no comments to offer".

* "Majority of the inspections taking place nowadays are surprise inspection," Motilal said in a note to its clients.

* Must wait for the final audit report to come, the Motilal note adds.

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* Also, Sun Pharma recalled 200 vials of a cancer drug in July.

* Separately, the U.S. FDA said in May that Sun Pharma's response to the import ban on its Karkhadi plant in Gujarat was inadequate.

(Reporting by Abhishek Vishnoi)

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First Published: Sep 11 2014 | 10:49 AM IST

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