Sun Pharma: USFDA issues 6 observations for Halol Unit, stock dips

Friday morning proved to be dire for Sun Pharma as the stock tumbled by over 5 per cent as the US drug regulator issued six observations questioning the test measures employed by the company at its Halol Plant.

The US Food and Drug Administration (USFDA) issued observations pertaining to the appropriateness of the test measures for lab controls in addition to procedural issues. The report is said to have identified a lack of care in prevention of objectionable microorganisms as the procedures to prevent the same were not followed. In addition to this, the sample size in the written stability programme was not based on statistical data and written procedures for cleaning and maintenance of equipment were not being employed.
 

Meanwhile, the stock of Sun Pharma has risen 13 per cent in the past month, it fell by 1 per cent in the past three days. At 15:17 hours, the stock was trading at Rs. 664.30 per share, down by 1.93 per cent, on the BSE. The stock reported an intraday high of Rs. 658 per share and an intraday low of Rs. 640.95. The BSE Sensex was at 38398,up by  0.42 and Nifty50 was at 11,595.45, up by 0.51 per cent.