Sun Pharma head towards biggest daily gain in 5-1/2 months

Reuters Market Eye - Sun Pharmaceutical Industries gains more than 6 percent.

Heads towards biggest single-day gain since April 9.

Credit Suisse says Sun has received a Form 483 from the U.S. FDA on a Gujarat facility.

FDA's Form 483 is a letter that notifies company of objectionable conditions.

Traders say low chances of an import alert.

Credit Suisse notes the Form 483 given to Sun contained "no data integrity issues."

Says chances of an import alert are "low."

Ranbaxy Laboratories , which is in the process of being acquired by Sun Pharma, is also up 5.5 percent.

Sun said on Sept. 12 the FDA inspected ints plant, but expected "no material impact."

 

A Sun spokesman did not immediately respond to request for comment.

(Reporting by Abhishek Vishnoi)