Growth concerns resurface for Sun Pharma after disappointing second quarter

Analysts cut earnings estimates on muted India business growth outlook, rising expenses on specialty launches in the US

Shares of Sun Pharmaceuticals Industries lost a little more than seven per cent after the company reported a lower-than-expected performance for the September quarter. The results were declared after market hours on Tuesday.

Market sentiment had earlier improved on Sun’s business growth in the US having picked up after clearance of its Halol (Gujarat) plant by that country’s regulatory agency for the segment, launch of its speciality portfolio and supported by domestic sales growth. While the miss in performance in the quarter (the second one or Q2 in the financial year) was largely led by one-offs, sentiment on the Street was