Sun Pharma gains 4% on likely inspection of Halol plant in February
ETMarkets.com|
Jan 08, 2018, 10.50 AM IST
Earlier in September 2014, the Halol site came under the lens, receiving as many as 23 observations from the US agency.
NEW DELHI: Shares of Sun Pharma rose 4 per cent after sources told ET that the USFDA may begin inspecting manufacturing facility at Halol in the second week of February.
The much-awaited inspection is critical as the facility produces multiple medicines from tablets to ointments and injectables, ET report said.
The stock rose 4.4 per cent to hit a high of Rs 604.50 on BSE. A total of 5.61 lakh shares changed hands on the counter so far compared with a two-week average of 6.08 lakh shares. The stock hit a 52-week high of 728.45 and low of Rs 433.15 level.
Following an inspection in the last week of November 2016, the Halol site was issued nine observations for deviations from standard manufacturing quality and procedure norms as spelled out by the US agency.
Earlier in September 2014, the Halol site came under the lens, receiving as many as 23 observations from the US agency. The inspection culminated into a warning letter fifteen months on in December 2015.
The much-awaited inspection is critical as the facility produces multiple medicines from tablets to ointments and injectables, ET report said.
The stock rose 4.4 per cent to hit a high of Rs 604.50 on BSE. A total of 5.61 lakh shares changed hands on the counter so far compared with a two-week average of 6.08 lakh shares. The stock hit a 52-week high of 728.45 and low of Rs 433.15 level.
Following an inspection in the last week of November 2016, the Halol site was issued nine observations for deviations from standard manufacturing quality and procedure norms as spelled out by the US agency.
Earlier in September 2014, the Halol site came under the lens, receiving as many as 23 observations from the US agency. The inspection culminated into a warning letter fifteen months on in December 2015.
