In yet another blow, US Food and Drug Administration (FDA) issued an import alert on pharmaceutical company Sun Pharma for all products manufactured at its Karkhadi unit. The unit makes active pharmaceutical ingredients (API) and formulations.
Speaking to CNBC-TV18, pharma analyst at Prabhudas Lilladher Surajit Pal said import alert generally means stalling of revenue for a year or two from the plant under vigilance. "But we need to see the quantum of revenue it generates from the plant and the kind of cost they saved by producing API from there because we also know that they supply API to their Caraco unit and they also enjoy the low cost API from Indian plant."
Earlier in the week, the pharma major had recalled 2,528 bottles of its generic version of diabetes drug Glumetza from US-based Santarus Inc after it received a customer complaint.
The company's subsidiary Caraco on Wednesday had received approval from US Food and Drug Administration (FDA) for making Risperidone oral tablets. Risperidone is used to treat schizophrenia.
Earlier Ranbaxy and Wockhardt had come under USFDA scanner. Discussing the turn of events, Nilesh Shah of Envision Capital told CNBC-TV18 that the penalty on Karkhadi unit is reminiscent of the way Ranbaxy was examined by the USFDA. 'It started with import alert on one plant, but gradually the rest of it came under scrutiny."
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