Sun Pharma heads towards lowest close in a month

Reuters Market Eye - Sun Pharmaceutical Industries Ltd falls as much as 4.1 percent, heads towards the stock's lowest since Aug. 13.

Sun's unit Taro Pharmaceutical Industries recalled two lots of a key drug on Sept. 2, citing failed content uniformity specifications, according to the U.S. FDA.(http://1.usa.gov/1rQSqT4)

The recalled Warfarin Sodium Tablets are intended to prevent blood clots.

The drug makes up nearly 5 percent of Taro's sales, analysts say.

A Sun Pharma spokesman was not immediately reachable for comment.

Sun shares lost 4.3 percent in value on Thursday on media reports of a U.S. FDA inspection.

Separately, Sun on Thursday said it was seeking shareholders' nod for borrowing limit of up to 500 billion rupees.

 

(Reporting by Abhishek Vishnoi)