Sun Pharma stock sheds 15% on price fixing concerns, slow portfolio ramp-up

The Sun Pharmaceutical Industries (Sun Pharma) stock has shed about 15 per cent from its January 2020 highs on worries of higher liability on the price fixing case, slower-than-expected ramping-up of specialty portfolio, higher research and development costs, and margin pressures. 

The near-term worry for the company is the ongoing investigation by the US Department of Justice related to price fixing and cartelisation by generic companies. Sandoz, which entered into a settlement on March 2, is the third company to admit to the antitrust charges. 

The company has agreed to pay $195 million as criminal penalty in an antitrust case.