Sun Pharma falls on anti-diabetes drug recall

Reuters Market Eye - Shares in Sun Pharmaceutical Industries Ltd fall as much as 2.8 percent after the U.S. Food and Drug Administration said the drug maker was voluntarily recalling 2,528 bottles of its generic version of diabetes drug Glumetza from U.S.-based Santarus Inc.

Sun began recalling the bottles of metformin HCL extended-release tables in the United States on January 28, 2014, after it received a customer complaint that one of the bottles contained tablets of epilepsy drug Gabapentin, the FDA said in a release on its web site. (http://r.reuters.com/fyb57v)

A Sun spokeswoman confirmed the recall on Monday morning, adding that the company did not expect a significant impact.

 

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

The Sun recall comes as shares in Ranbaxy Laboratories Ltd fell as much as 3.8 percent on Monday after the drug maker 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.

(Reporting by Zeba Siddiqui)