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Sun Pharma stock up 4% on import alert relief

Press Trust of India  |  New Delhi 

of Industries today rose nearly 4 per cent after the USFDA said it will lift the import alert on the drug major's Mohali-based manufacturing plant.

On BSE, the stock ended the day at Rs 708.25, up 3.61 per cent from the previous close. Intra-day, it touched a high of Rs 728.45.

The scrip settled the day on at Rs 706.55, up 3.46 per cent from the previous close. It touched a high of Rs 729.05 during the intra-day trade.

Following an uptick in the counter, the market capitalisation of the firm stood nearly at Rs 1.7 lakh crore.

The drug major has been informed by the US Food and Drug Administration (USFDA) that it will lift the import alert imposed on the Mohali plant and remove the facility from the Official Action Initiated (OAI) status, Industries said in a regulatory filing.

"This proposed action will clear the path for Sun Pharma to supply approved products from the Mohali facility to the US market, subject to normal USFDA regulatory requirements," it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 14 2017. 18:07 IST