Sun Pharma had received an Establishment Inspection Report from the USFDA for its Halol facility. This plant was last inspected in February 2018, a warning letter status since December, 2015 wherein the FDA issued three observations for the injectable manufacturing block. This EIR implies closure of both the observations and the warning letter issue.
As the regulatory issue at Halol has been resolved, new ANDA approvals held back for the last three years should commence. The company should be able to gradually increase sales for the current portfolio, where it had lost market share. We are recommending a buy.
Disclaimer: The author is founder & CEO of Equity99. The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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