Sun Pharmaceutical Industries slipped 2.61% to Rs 990.70 after the US FDA placed the Halol, Gujarat facility under import alert following the inspection conducted in May 2022.
The United States Food and Drug Administration (USFDA) conducted the inspection at its Halol, Gujarat facility from 26 April 2022 to 9 May 2022.The import alert implies that all future shipments of products manufactured at this facility are subject to refusal of admission to the US market until the facility becomes compliant with current good manufacturing practice (cGMP) standards. The USFDA has excluded 14 products from this import alert subject to certain conditions.
The US revenues from the 14 excluded products supplied from this facility contributed to 3% of consolidated revenues in the financial year ended 31 March 2022.
The pharma company said that it continues to cooperate with the USFDA and will undertake all necessary steps to resolve these issues and to ensure that the regulator is completely satisfied with the company's remedial action.
The drug maker said that it is committed to being cGMP compliant and in supplying high-quality products to its customers and patients globally.
Sun Pharma is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
The pharma major's consolidated net profit rose 10.51% to Rs 2,262.22 crore on 13.11% increase in revenue from operations to Rs 10,809.19 crore in Q2 FY23 over Q2 FY22.
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