Sun Pharma up over 6 percent, heads towards biggest daily gain in 5-1/2 months

Reuters Market Eye - Sun Pharmaceutical Industries gains more than 6 pct, heads towards biggest single-day gain since April 9.

Credit Suisse says Sun has received a Form 483 from the U.S. FDA on a Gujarat facility.

FDA's Form 483 is a letter that notifies company of objectionable conditions.

Traders say there are low chances of an import alert.

Credit Suisse notes letter given to Sun contained "no data integrity issues" and says chances of an import alert are "low."

Ranbaxy Laboratories , a unit of Sun Pharma, is also up 5.5 percent.

Sun said on Sept. 12 the FDA inspected its plant, but expected "no material impact."

 

Sun spokesman did not immediately respond to request for comment.

(Reporting by Abhishek Vishnoi)