Sun Pharmaceutical Industries gained 9%,as investors were happy on regulatory development on stock.A report on CNBC-TV18,co. has received a VAI status for its Halol plant from US FDA,implying that no re-inspection required at its Halol plant from US FDA & it issued to unit 3 observations recently.Last week (quarter ending Mar',2018) drug unit had gained about 7% in consolidated net profit at Rs 1,308.96 crore.
Sun Pharmaceutical Industries gained 9 percent, as investors cheered a regulatory development on the stock. As per a report on CNBC-TV18, the company has received a voluntary action initiated (VAI) status for its Halol plant from US (Food and Drug Authority) FDA. VAI status implies that there would be no re-inspection required at its Halol plant from US FDA, and it issued to this unit three observations recently. Last week (For quarter ending Mar',2018) the drug unit had gained about 7 percent in consolidated net profit at Rs 1,308.96 crore, due to revenue growth in India and emerging markets, inspite of the US sales being low. Ref. : https://www.moneycontrol.com/news/business/markets/no-re-inspection-at-sun-pharmas-halol-unit-sends-stock-soaring-9-2585947.html --- Dated: Jun'08,2018