SunPharm Slumps After U.S. FDA Warning for Halol Plant
Shares of Sun Pharmaceutical Industries Ltd. dropped the most in six weeks after receiving a warning letter from the U.S. Food and Drug Administration following an inspection at one of its facilities.
Sun’s shares slid 4.6 percent to 754.20 rupees in Mumbai, the biggest loss since Nov. 9. HSBC Holdings Plc cut the stock’s rating to hold from buy, while Morgan Stanley reduced it to equal-weight from overweight.
Sun’s shares slid 4.6 percent to 754.20 rupees in Mumbai, the biggest loss since Nov. 9. HSBC Holdings Plc cut the stock’s rating to hold from buy, while Morgan Stanley reduced it to equal-weight from overweight.