Sun Pharma gets eclipsed

Sun Pharma seems to be ailing today. From yesterday’s close of Rs.865.15, it opened weaker at Rs.855.50, going down to an intra day low at Rs.844.20.

The reason? The company, voluntarily recalled 381,120 cartons of osteoporosis drugs in the US and Puerto Rico. This is put up on the US FDA website though the company had not disclosed anything on this to the exchanges.

The FDA has stated that the reason for recall was: "Observed levels of highest unknown impurity exceeding specification limit at the 3 month stability time point.”

The very same drug was made at its Halol plant in Gujarat which, in Dec’15 had received a warning from the FDA for manufacturing standards.

This recall is categorized under Class II which means that the probability of serious health issues is remote.