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Sun Pharmaceutical Industries Ltd (SUNPHARMA.NS) Hit By FDA Ban On Gujarat Plant, Shares Fall


3/13/2014 7:16:39 AM

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The U.S. Food and Drug Administration (FDA) has banned imports from Indian generic drugmaker Sun Pharmaceutical Industries Ltd's(SUN.NS) plant at Karkhadi in Gujarat, in the latest quality blow for India's drug sector. The FDA has imposed a rash of regulatory sanctions on Indian generic makers in the last year, triggering concerns about the quality of the medicines supplied by the $14 billion industry to countries including the United States, the biggest market. India is second only to Canada as a drug exporter to the United States, where it supplies about 40 percent of generic and over-the-counter drugs.

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