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Sun Pharma slips on recalling products in US market

Sun Pharmaceutical Industries is currently trading at Rs. 602.40, down by 2.95 points or 0.49% from its previous closing of Rs. 605.35 on the BSE.

The scrip opened at Rs. 606.05 and has touched a high and low of Rs. 610.00 and Rs. 602.00 respectively. So far 50903 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 653.70 on 12-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. 628.25 and Rs. 596.55 respectively. The current market cap of the company is Rs. 145147.77 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 products in the US market, the world’s largest market for pharmaceutical products, for various reasons. As per the latest Enforcement Report by the US Food and Drug Administration (USFDA), Sun Pharma is recalling Cequa ophthalmic solution, which is used to treat chronic dry eye. The US-based subsidiary of the Mumbai-based drug major is recalling 37,400 cartons (60 vials per carton) of the ophthalmic solution for being ‘subpotent’.

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

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