Sun Pharma share price saw a rebound of more than 1 per cent on NSE today after slipping almost 1.5 per cent in the early hours of last trading session.
The shares of the pharma major dipped on regulatory concerns as some testing programmes were not adequately designed at Halol Plant. The USFDA had inspected Halol unit from 17thNovember to 1st December, 2016 and issued a Form-483 citing a total of nine inspectional observations.
However, according to the analysts, observations issued for Halol unit are not serious in nature. The market was seen to be quite hopeful of early clearance from the US Food and Drug Administration to Halol unit and the same emotion was reflected on the share price performance.
The nine observations issued by USFDA after inspection of Halol unit, Gujarat are as follows:-
- Field alert reports have not submitted in three working days of receipt of information
- Drug products do not bear expiration date determined by apt stability
- Testing programme is not adequately designed to assess drug product stability
- Establishment of test procedures is not fully reviewed by quality control unit
- Accuracy of test methods has not been established
- Sound & appropriate lab control mechanisms are not established
- Procedures applicable to quality control unit are not fully followed
- Changes to procedures are not drafted & reviewed by apt organisational units
- Changes to procedures are not approved by appropriate organisational units
Sun Pharma share price closed at Rs 684.35, up by 1.08 per cent on NSE. The share price went as high as Rs 685.70 and as low as Rs 666.55 in today’s trading session. A total of 45,08,196 shares of the company have been traded on NSE aggregating to a total value of Rs 30,633.64 lacs.
Get the historical share price performance of the company, at Sun Pharma share price history.
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