Sun recalls diabetes drug in US, shares fall

Following Ranbaxy's drug recall in the US, another Indian major Sun Pharma has recalled 2,528 bottles of its generic version of diabetes drug Glumetza from US-based Santarus Inc.

Shares in Sun Pharmaceutical Industries fell as much as 2.8% on Monday. Shares closed at Rs 596, down by 2.64 on BSE.

According to FDA statement, Sun began recalling the bottles of metformin HCL extended-release tables on January 28, 2014, after it received a customer complaint that one of the bottles contained tablets of epilepsy drug Gabapentin.

The FDA classified the recall as a "Class II," which signifies less adverse consequences or death due to the product flaw.

Last week, Ranbaxy Laboratories recalled more than 64,000 bottles of the generic version of a cholesterol-lowering drug in the United States after a doseage mix-up was detected.