The 5% increase in Sun Pharma’s shares was a bit surprising, considering its press release gave no details about the observations. Sun Pharmaceutical Industries Ltd was unable to convince the US Food and Drug Administration inspection team to give its Halol (Gujarat) plant an all-clear. Sun Pharma had spent considerable time and money in ensuring this plant was up to the USFDA’s compliance levels. The 5% increase in Sun Pharmaceutical’s shares was a bit surprising, considering its press release gave no details about the observations. It did not clarify if any of these were repeat observations.

Source: Mint February 26, 2018 02:03 UTC