Sun Pharmaceutical Industries fell 2.09% to trade at Rs 429.50 after the company received eight Form 483 observations from the USFDA for its Halol facility in Gujarat.
It traded in the range of Rs 426.50 and Rs 433 so far during the day. In the past one month, the scrip rose 6.55% as compared to a 5.02% rise in Nifty Pharma index.
Sun Pharmaceutical Industries in an exchange filing after market hours on Friday, 13 December 2019, said that the US Food and Drug Administration (USFDA) conducted a Good Manufacturing Practices (GMP) inspection at the company's Halol facility in Gujarat from 3-13 December 2019. At the conclusion of the inspection, the agency issued a Form 483, with eight observations.
The company said it is preparing the response to the observations, which will be submitted to the USFDA within 15 business days. The firm is committed to addressing these observations promptly. The company remains committed to working closely with the USFDA and continues to enhance its GMP compliance on an ongoing basis, it said.
Sun Pharmaceutical Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
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