Sun Pharma clarifies on Baska facility inspection report; stock down 2%

The pharma major claimed that there is no material impact of this article on the company.

Mar 25, 2019 09:03 IST India Infoline News Service

Sun Pharma
Sun Pharma in its filing to the NSE on Monday clarified on a media report regarding US Food and Drug Administration (USFDA) observation for Baska facility by claiming that there will be no material impact of this article on the company. Despite this, shares of the company were trading 2% down on the NSE.

MonyControl on March 21, Thursday, had reported that the US health regulator issued one observation for company's Baska facility. According to a media report, the USFDA inspected the company's Baska facility, in Gujarat, from January 28 to February 5.

After that exchanges had sought a clarification from the company.

In exchange, the company said that the USFDA conducted a Pre-Approval Inspection (PAI) of Sun Pharmaceutical Industries Ltd's Baska facility (Gujarat) from January 28 to February 5, 2019. At the conclusion of the inspection, the USFDA issued a Form 483, with one observation for which the company has submitted the response to the USFDA.
"There is no material impact of this article on the company," the company added.
Sun Pharmaceuticals Industries Ltd's share price is currently at Rs464.10, down by Rs9.05 or 1.91%, from its previous close of Rs473.15 on the BSE. The scrip opened at Rs468.90 and has touched a high and low of Rs469.10 and Rs461.30, respectively. So far, 39,19,555 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs1,13,524.53cr.

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