Friday , September 17 2021

Sun Pharma slips on recalling 36,275 cartons of testosterone injection in US for labelling error

Sun Pharmaceutical Industries is currently trading at Rs. 633.65, down by 1.00 points or 0.16% from its previous closing of Rs. 634.65 on the BSE.

The scrip opened at Rs. 635.00 and has touched a high and low of Rs. 639.00 and Rs. 627.30 respectively. So far 163545 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 648.30 on 03-Feb-2021 and a 52 week low of Rs. 315.20 on 23-Mar-2020.

Last one week high and low of the scrip stood at Rs. 648.30 and Rs. 610.85 respectively. The current market cap of the company is Rs. 151913.89 crore.

The promoters holding in the company stood at 54.48%, while Institutions and Non-Institutions held 33.03% and 12.49% respectively.

Sun Pharmaceutical Industries is recalling 36,275 cartons of a drug used to treat low testosterone levels in the US market for incorrect labelling. The affected lot of the intramuscular injections was manufactured by the drug maker in India and distributed in the US by Princeton, New Jersey-based Sun Pharmaceutical Industries Inc. The company initiated the nationwide recall on January 11, 2021.

Last year in October, the company had recalled 747 bottles of generic diabetes drug in the US due to the possibility of the affected lot containing cancer-causing nitrosodimethylamine above the acceptable intake limit. The company had recalled RIOMET ER (metformin hydrochloride for extended-release oral suspension) due to deviation from the current good manufacturing practices — detection of N-nitrosodimethylamine impurity in finished drug product.

Sun Pharma is the world’s fourth largest specialty generic pharmaceutical company and India’s top pharmaceutical company.

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