Sun Pharmaceutical Industries Limited Update on Mohali facility

Sun Pharmaceutical Industries Limited had earlier announced regarding the USFDA inspection at the Company's Mohali (Punjab) facility from August 03 to August 12, 2022 and issuance of Form-483 by USFDA with 6 observations.

The Company has received a communication from the USFDA determining the inspection classification as "Official Action Indicated" (OAI). Further, the communication states that the USFDA may withhold approval of any pending product applications or supplements filed from this facility till the outstanding observations are resolved and may initiate additional actions, if any, under the current Consent Decree.

The Company continues to manufacture and distribute existing products for the US market, thereby not likely to have any material adverse impact on current business from the facility.

Sun Pharma continues to cooperate with the USFDA and will undertake all necessary steps to resolve these issues and to ensure that the regulator is completely satisfied with the Company's remedial action.

Sun Pharma remains committed to being cGMP compliant and in supplying high-quality products to its customers and patients globally.

Shares of Sun Pharmaceutical Industries Limited was last trading in BSE at Rs. 1027.80 as compared to the previous close of Rs. 1039.50. The total number of shares traded during the day was 331070 in over 8122 trades.

The stock hit an intraday high of Rs. 1049.15 and intraday low of 1021.05. The net turnover during the day was Rs. 339593521.00.

Source : Equity Bulls

Keywords

SunPharmaceuticalIndustries INE044A01036 MohaliFacility USFDA Inspection OfficialActionIndicated OAI