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Jan 11, 2018 11:35 AM IST | Source: Moneycontrol.com

Sun Pharma gains 2% as Halol unit gets Good Manufacturing Certificate from Dutch Agency

Halol plant is critical to Sun Pharma's big product approvals.

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Sun Pharmaceutical Industries shares extended gains to nearly 2 percent intraday Thursday after its Halol plant in Gujarat is cleared by Dutch health regulator.

CNBC-TV18 reports quoting Cogencis that pharma major's Halol unit in Gujarat has received Good Manufacturing Certificate from Dutch Agency.

Dutch's health regulator had audited Sun Pharma's Halol unit on August 25, 2017.

Other reason for upside in the stock is that the clearance by Dutch regulator raised hopes for early approval from the US Food and Drug Administration for the same plant.

Recently sources told CNBC-TV18 that inspection of the plant by USFDA is expected to be in February.

Halol plant, which is critical to company’s big product approvals, was issued a warning letter by the US Food and Drug Administration (FDA) in December 2015 due to violation of good manufacturing practices. Consequently, the pace of product approvals in the US has slackened.

At 11:22 hours IST, the stock price was quoting at Rs 596.00, up Rs 10.35, or 1.77 percent on the BSE.
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