Halol is a crucial facility for Sun Pharma as it contributes around 15 percent of total US sales.
Shares of Sun Pharmaceutical Industries rallied 4.7 percent intraday on August 19 after the US health regulator classified company’s Halol plant as ‘No Action Indicated’.
No Action Indicated means no objectionable conditions or practices were found during the inspection (or the significance of the documented objectionable conditions found does not justify further action).
The Halol unit was inspected by US Food and Drug Administration during June 3-11, 2019 and the regulator issued four observations.
Halol is a crucial facility for Sun Pharma as it contributes around 15 percent of total US sales.
The unit was under USFDA warning letter since December 2015 and the same was lifted in 2018. The health regulator has issued Establishment Inspection Report to plant in June last year.
The stock was quoting at Rs 430.85, up Rs 16.10, or 3.88 percent on the BSE at 1022 hours IST.
