India’s largest drugmaker Sun Pharmaceuticals has informed the exchanges the US Food and Drug Administration (FDA) has said it would remove more than three-year-old import sanctions on its Mohali plant.
A logo of Sun Pharmaceutical Industries Ltd is pictured at its research and development centre in Mumbai (Photo: Reuters)The US health regulator has proposed to lift the import alert on Sun Pharma's Mohali (Punjab) based manufacturing plant.
Sun Pharmaceutical Industries has moved higher by 7% to Rs 729 on the National Stock Exchange (NSE) after the company said the US health regulator will lift the import alert to permit the supply of products from Mohali facility to the US market.
A trial court on Thursday discharged former telecom minister Dayanidhi Maran, his brother Kalanithi Maran and others in the Aircel-Maxis deal cases lodged by the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED).
Close to two years after Dilip Shanghvi-led Sun Pharmaceutical completed the acquisition of Ranbaxy, indications are that the Ranbaxy portfolio’s contribution has grown from 32 per cent to 37 per cent of the combined India sales.
Drug major Sun Pharma on Tuesday said one of its subsidiaries has voluntarily requested the US health regulator to withdraw approval for 28 abbreviated new drug applications belonging to Ranbaxy Laboratories.
Sun Pharmaceutical Industries has rallied 6% to Rs 708 on BSE in early morning trade after the pharma major's consolidated net profit more than doubles to Rs 2,235 crore for the quarter ended September 30, 2016 (Q2FY17).