Sun Pharma gets 'FDA'ed

The woes of Sun Pharma with the US FDA simply does not go away.

In the latest, the FDA conducted a Good Manufacturing Practices {GMP) inspection of Sun Pharma’s Halol unit in Gujarat from December 03-13, 2019.

At the conclusion of the inspection, the agency issued a Form 483, with eight observations.

The Company is preparing the response to the observations, which will be submitted to the US FDA within 15 business days.

The Company said that it is committed to addressing these observations promptly. The Company remains committed to working closely with the US FDA and continues to enhance its GMP compliance on an ongoing basis.

The stock price has reacted not-too-well with this news; It fell today after 4 days on consecutive gains. It hit an intraday low in the opening bell session at Rs.426.50, going down 2.8%. It is currently hovering in the red at Rs.433 levels.