Sun Pharma may receive USFDA clearance for Halol unit

The pharma industry bellwether Sun Pharmaceutical was buzzing on the bourses following news that USFDA may soon give clearance to the company's Halol site in Gujarat.

The US drug regulator USFDA conducted an inspection of Sun Pharma’s Halol unit in February. At the end of the inspection, the regulator issued a Form 483, with three minor observations. The observations related to upkeeping of equipment, improper staff training and incubation temperature, said news reports.

Sun Pharma will file its response soon and the management is committed to improving its good manufacturing compliance. The company is world's fourth largest speciality generics drugmaker. The Halol plant is crucial for Sun Pharma's US business due to its cost-effective manufacturing facility. The facility was pulled up by the US regulator in November 2016 because of manufacturing deficiencies.

At 10:51 hours, the stock was trading at Rs. 546.05 per share, down 0.33 per cent on Tuesday.