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Last Updated : Sep 12, 2014 02:19 PM IST | Source: Moneycontrol.com

Sun Pharma falls 4%, Taro recalls anti-clotting drug

Taro has recalled two lots of a key drug on September 2, citing failed content uniformity specifications, according to drug regulator. The drug contributes nearly 5 percent of Taro's sales, analysts say.

 
 
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Shares of Sun Pharma slipped 4 percent intraday Friday on drug recall concern. Its subsidiary Taro Pharmaceutical has recalled an anti-clotting drug, Warfarin generic from the US markets due to USFDA concerns on quality.


Taro has recalled two lots of a key drug on September 2, citing failed content uniformity specifications, according to drug regulator. The drug contributes nearly 5 percent of Taro's sales, analysts say.

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The stock has been under pressure from yesterday as the US drug regulator made a surprise audit at the pharma major's Halol facility in Gujarat. It is learnt that majority of ex-Taro products of Sun Pharma for the US market come from Halol facility, the largest plant of the company, which supplies 40 percent of US sales and contributes 25 percent to consolidated profit.


At 13:21 hrs, the stock was quoting at Rs 807.85, down Rs 14.95, or 1.82 percent.

(With inputs from Reuters)



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First Published on Sep 12, 2014 01:42 pm
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