Shares of Sun Pharmaceutical Ltd. fell nearly 2% on Monday after the company received eight observations from US Food and Drug Administration on Saturday.
On June 14, drug major Sun Pharma said the US health regulator has issued a Form 483 with eight observations after inspecting its Halol (Gujarat) manufacturing plant.
The US FDA conducted a good manufacturing practices inspection at the Halol facility from June 2-13, 2025, the Mumbai-based drug maker said in a regulatory filing.
At the conclusion of the inspection, the USFDA issued a Form-483 with 8 observations, it added.
As per the USFDA, Form 483 is issued to a firm's management at the conclusion of an inspection when the investigator has observed any conditions that may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.
Sun Pharma Share Price
Shares of Sun Pharma fell as much as 1.90% to Rs 1,655.70 apiece. They pared losses to trade 0.11% lower at Rs 1,685.90 apiece, as of 9:25 a.m. This compares to a 0.36% advance in the NSE Nifty 50.
The stock has risen 11.36% in the last 12 months and fallen 10.56% year-to-date. Total traded volume so far in the day stood at 2.90 times its 30-day average. The relative strength index was at 61.16.
Out of 43 analysts tracking the company, 35 maintain a 'buy' rating, five recommend a 'hold' and three suggest 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside of 18.6%.
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