Sun Pharma Industries Ltd received a warning letter from the United States Food and Drug Administration (USFDA) concerning its Dadra facility, the company disclosed in a stock exchange filing. The warning letter outlines violations related to Current Good Manufacturing Practice (cGMP) regulations, according to the pharmaceutical major.
Following this announcement, Sun Pharma’s stock declined more than 1 percent on June 19, closing at Rs 1,505, which underperformed the benchmark Nifty 50 index that ended down 0.15 percent. The market reaction to the warning letter could potentially impact the stock further when trading resumes on June 20.
Earlier in April, Sun Pharma had received an Official Action Indicated (OAI) status for the same Dadra unit from the USFDA, following an inspection conducted by the regulatory body in December 2023.
