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Sun Pharmaceutical rises as its arm Caraco gets USFDA nod to resume operations

28 Aug 2012 Evaluate

Sun Pharmaceutical is currently trading at Rs. 673.00, up by 3.15 points or 0.47% from its previous closing of Rs. 669.85 on the BSE.

The scrip opened at Rs. 668.00 and has touched a high and low of Rs. 677.00 and Rs. 666.00 respectively. So far 29793 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 690.00 on 10-Aug-2012 and a 52 week low of Rs. 448.20 on 04-Oct-2011.

Last one week high and low of the scrip stood at Rs. 677.00 and Rs. 661.50 respectively. The current market cap of the company is Rs. 69135.45 crore.

The promoters holding in the company stood at 63.72% while Institutions and Non-Institutions held 25.73% and 10.55% respectively.

Sun Pharmaceutical Industries’ subsidiary Caraco has received US Food and Drug Administration (FDA) approval to resume operations at its manufacturing facility and packaging sites in Detriot and Wixom, Michigan. USFDA, subsequent to inspections earlier this year and corrective action on 483’s, has determined Caraco to be in compliance with relevant paragraphs of the Consent Decree.

During their inspection, the USFDA reviewed the certification reports for production of Carvedilol USP as well as Paramomycin USP, and subsequently reviewed corrective actions on 483's. Currently, Caraco may resume products of only these two products.

Manufacturing of other products from these sites, including those pending approval with the USFDA, will be subject to similar rigorous approval procedure. As a result, the increase in production at these sites and resultant revenue contribution is expected to be gradual.

With reference to other requirements of the same Consent Decree, Caraco is required to now work with an external auditor conducting regular inspections for an extended period.

Sun Pharma Inds. Share Price

1675.20 -17.95 (-1.06%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Sun Pharma Inds. 1675.20
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Cipla 1238.30
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