Sun Pharmaceutical slips over 5% on Halal plant coming under US drug authority scanner

The share price of Sun Pharmaceutical Industries today declined by over 5% on stock exchanges by touching an intraday low of Rs 640.95 per piece. It eased down in last few minutes of trading session as it was trading at Rs 665.85 below Rs 11.65  or 1.72% ahead of that. The reason behind the decline is due to the company's Halol plant coming once again under observation of US drug authority. 

According to Bloomberg Quint, Sun Pharma's Halol plant, which was cleared by the U.S. drug regulator earlier this year, received six fresh observations after an inspection conducted from Aug. 27-31.

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The observations, however, don’t bar the plant from filing fresh approvals. The Halol facility manufactures most of the niche future filings, including injectables, from India’s largest drugmaker.