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<ul><li>As per information available on <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword>, <keyword id="44642" type="General" weightage="80" keywordseo="sun-pharma" source="Orion">Sun Pharma</keyword> had clocked revenue of Rs 15,585.98 crore in 2021-22.</li><li>The development follows an inspection of the facility by the <keyword id="6356255" type="General" weightage="50" keywordseo="us-food-and-drug-administration" source="Orion">US Food and Drug Administration</keyword> (<keyword id="44669" type="General" weightage="80" keywordseo="usfda" source="Orion">USFDA</keyword>) from April 26 to May 9, 2022.</li><li><keyword id="1618324" type="General" weightage="100" keywordseo="import-alert" source="Orion">Import alert</keyword> implies that all future shipments of products manufactured at this facility are subject to refusal of admission to the US market until the facility becomes compliant with cGMP.</li></ul> Sun Pharmaceutical Industries Ltd on Thursday said its Halol facility in <keyword id="6354766" type="General" weightage="20" keywordseo="gujarat" source="Orion">Gujarat</keyword> has been listed under import alert by the USFDA with products manufactured at the unit now are subject to refusal of admission in the US market. The development follows an inspection of the facility by the US Food and Drug Administration (USFDA) from April 26 to May 9, 2022. "We now wish to inform you that the company has received a communication from the USFDA stating that the facility has been listed under Import Alert," Sun Pharma said in a regulatory filing. Import alert implies that all future shipments of products manufactured at this facility are subject to refusal of admission to the US market until the facility becomes compliant with cGMP (current good manufacturing practice) standards, it added. The company further said, "The USFDA has excluded 14 products from this import alert subject to certain conditions." For the year ended 31-March-2022, supplies to the US market from the Halol facility accounted for approximately 3 per cent of the company's consolidated revenues, including the 14 excluded products, it added. As per information available on BSE, Sun Pharma had clocked revenue of Rs 15,585.98 crore in 2021-22. Sun Pharma said it "continues to cooperate with the USFDA and will undertake all necessary steps to resolve these issues and to ensure that the regulator is completely satisfied with the company's remedial action". SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fpis-invest-over-36000-crore-in-indian-equities-in-november-financial-services-is-top-favourite/articleshow/96082197.cms">FPIs invest over ₹36,000 crore in Indian equities in November – Financial services is top favourite</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/wordle-is-the-most-googled-topic-in-2022-heres-how-it-started-and-how-to-play-it/slidelist/96081579.cms">Wordle is the most googled topic in 2022, here's how it started and how to play it</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/dysons-futuristic-air-purifying-noise-canceling-headphones-are-ready-to-hit-the-market-from-january-2023/articleshow/96081759.cms">Dyson’s futuristic air-purifying, noise-canceling headphones are ready to hit the market from January 2023</a>

Sun Pharma's Halol unit put under 'import alert' by USFDA

Zerodha founders, Rakesh Jhunjhunwala, Akshay Kumar and more donate up to ₹50 crore in FY21

The key Indian equity indices traded deep in the red on Thursday morning with the BSE <keyword id="6484188" type="PERSON" weightage="20" keywordseo="sensex">Sensex</keyword> falling nearly 800 points. It fell to an intraday low of 50,659.17 during the initial trade, lower by 785 points from its previous close. The fall in the domestic market came on the back of a similar trend in the Asian markets. The indices are, however off the intraday lows and around 9.20 a.m. Sensex was trading at 50,885.62, lower by 559.03 points or 1.09 per cent from its previous close of 51,444.65. It opened at 50,812.14 and has so far recorded an intraday high of 50,925.16 points. The Nifty50 on the <keyword id="53581" type="COMPANY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> was trading at 15,023.45, lower by 222.15 points or 1.46 per cent. Heavy selling was witnessed in metal, banking and finance stocks. The top losers on the Sensex so far were <keyword id="6357147" type="DOMAIN" weightage="20" keywordseo="tata-steel">Tata Steel</keyword>, HDFC and HDFC Bank, whereas the only gainers were ONGC, <keyword id="6354512" type="DOMAIN" weightage="20" keywordseo="Infosys">Infosys</keyword> and <keyword id="144384" type="DOMAIN" weightage="20" keywordseo="Sun-Pharmaceutical-Industries">Sun Pharmaceutical Industries</keyword>.--IANS rrb/sn/dpb

Sensex tumbles 800 points, Nifty falls below 15,000 amid weak global cues

The <keyword id="53232" type="COMPANY" weightage="20" keywordseo="BSE-sensex">BSE Sensex</keyword> plunged over 500 points on Wednesday morning tracking a decline in the Asian markets. Heavy selling was witnessed in metal, finance, banking and IT stocks. Around 10.15 a.m., <keyword id="6484188" type="PERSON" weightage="20" keywordseo="sensex">Sensex</keyword> was trading at 49,536.26, lower by 515.18 points or 1.03 per cent from its previous close of 50,051.44 points. It opened at 49,786.47 and has touched an intraday high of 49,854.58 and a low of 49,529.23 points. The Nifty50 on the <keyword id="53581" type="COMPANY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> was at 14,657.95, lower by 156.80 points or 1.06 per cent from its previous close. The major losers on the Sensex were <keyword id="6357147" type="DOMAIN" weightage="20" keywordseo="tata-steel">Tata Steel</keyword>, ONGC and <keyword id="6653" type="DOMAIN" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword>, while the top gainers were Asian Paints, <keyword id="144384" type="DOMAIN" weightage="20" keywordseo="Sun-Pharmaceutical-Industries">Sun Pharmaceutical Industries</keyword> and <keyword id="6368906" type="DOMAIN" weightage="20" keywordseo="power-grid">Power Grid</keyword>. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/peter-thiel-backed-vc-firm-valar-ventures-invests-in-indian-fintech-startup-velocity/articleshow/81663073.cms">Peter Thiel-backed VC firm Valar Ventures invests in Indian fintech startup Velocity</a> <a href="https://www.businessinsider.in/stock-market/news/anupam-rasayan-ipo-lists-at-520-per-share-on-the-india-stock-exchange/articleshow/81663145.cms">Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% below the issue price</a> <a href="https://www.businessinsider.in/tech/apps/news/supreme-court-orders-to-pause-all-cases-against-netflix-amazon-prime-and-others-in-high-courts-across-india/articleshow/81647182.cms">Supreme Court orders to pause all cases against Netflix, Amazon Prime and others in High Courts across India</a>

Sensex plunges by 500 points, Nifty down more than 1%

Mumbai, The key Indian equity indices opened on a positive note on Friday with the BSE <keyword id="6484188" type="PERSON" weightage="20" keywordseo="sensex">Sensex</keyword> surging over 500 points. Sensex rose as much as 542 points to touch an intraday high of 51,821.84 points. Healthy buying was witnessed in metal, banking and oil and gas stocks. Around 9.18 a.m., Sensex was trading at 51,723.51, higher by 444 points or 0.87 per cent from its previous close of 51,279.51. It opened at the day's low of 51,660.98 points. The Nifty50 on the <keyword id="53581" type="COMPANY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> was trading at 15,298.40, higher by 123.60 points or 0.81 per cent from its previous close. The top gainers on the Sensex were Larsen &amp; Toubro, ONGC and <keyword id="6357149" type="DOMAIN" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword>, while the major losers were Bajaj Auto, <keyword id="144384" type="DOMAIN" weightage="20" keywordseo="Sun-Pharmaceutical-Industries">Sun Pharmaceutical Industries</keyword> and <keyword id="6365619" type="DOMAIN" weightage="20" keywordseo="hindustan-unilever">Hindustan Unilever</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/covid-19-thane-district-records-937-new-cases-and-6-deaths-on-march-11/articleshow/81460406.cms">COVID-19: Thane district records 937 new cases and 6 deaths on March 11</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/covid-19-thane-district-records-937-new-cases-and-6-deaths-on-march-11/articleshow/81460406.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/kamala-harris-will-also-participate-in-the-first-quad-summit-with-joe-biden-and-narendra-modi/articleshow/81460216.cms">Kamala Harris will also participate in the first Quad summit with Joe Biden and Narendra Modi</a>

Sensex jumps 500 points, Nifty above 15,200 — banking, metal stocks shine

EY revealed the names of 16 best Indian <a href="http://www.businessinsider.in/searchresult.cms?query=entrepreneurs+&amp;sortorder=effectivedate">entrepreneurs </a>who will be contending for the EY <keyword id="6359301" type="POSITION" weightage="20" keywordseo="Entrepreneur">Entrepreneur</keyword> of the Year award. The 18th edition of the awards will see exceptional leaders, who have combined revenues of Rs 154, 335 crore and are providing employment to more than 5.2 lakh people in India and abroad. 
 
These finalists have been selected from among 250 outstanding nominations and will be felicitated at a grand celebratory Awards Banquet to be held on February 24 in <a href="http://www.businessinsider.in/searchresult.cms?query=New+Delhi&amp;sortorder=effectivedate">New Delhi</a>. 
 “Like previous years, this year’s finalists too represent extremely successful companies that have not only disrupted the industry with a new business model but have disrupted themselves to chart a new growth path. We need more entrepreneurs to propel our country’s growth and it is important to recognize such innovative entrepreneurs,” said <keyword id="207035" type="PERSON" weightage="20" keywordseo="Dilip-Shanghvi">Dilip Shanghvi</keyword>, Jury Chairman and Managing Director, <a href="http://www.businessinsider.in/searchresult.cms?query=Sun+Pharmaceuticals&amp;sortorder=effectivedate">Sun Pharmaceuticals</a>. 
 
These selected finalists were judged on the nominee’s entrepreneurial spirit, recent financial performance, strategic direction and global impact, product or service innovation, company leadership including personal integrity and risk-taking, values and key employee initiatives, and involvement with the community. 
 The winners will be announced across several categories, while the national winner will represent India at the EY World Entrepreneur of the Year (WEOY) awards in <keyword id="3319" type="CITY" weightage="20" keywordseo="monte-Carlo">Monte Carlo</keyword> from 8-11 June 2017. 
 
Here’s the complete list:

These are 16 finalists who are contending for EY Entrepreneur of the Year award

Pharmaceutical major <a href="http://www.businessinsider.in/searchresult.cms?query=Novartis">Novartis India</a> reported a 600% jump in its net profit at Rs 103.82 crore for the quarter ended September 30, 2015 on the back of slump sale of its OTC division to GlaxoSmithKline Plc for Rs 109.7 crore. It had posted a net profit of Rs 14 crore a year ago. 
 
The stand-alone total income from operations of the company declined 4.4% to Rs 224.43 crore during the reported quarter, from Rs 234.79 crore in the year-ago period. 
 "Proceeds of Rs 1,09.7 crore from slump sale of the OTC division to GSK CPL has been accounted for in the quarter ended September 30, 2015 results," <keyword id="69388" type="COMPANY" weightage="20" keywordseo="Novartis">Novartis</keyword> said in a statement. 
 
In January, its board had approved a slump sale of OTC business to <a href="http://www.businessinsider.in/searchresult.cms?query=GSK+consumer">GSK Consumer</a>. 
 
According to the company, sale of company’s OTC business in India follows the divestment of Novartis AG’s global OTC business, including all of Novartis AG’s major OTC patents, trade-marks and R&amp;D assets. 
 
Its parent Novartis AG also recently agreed to create a consumer healthcare joint venture with GlaxoSmithKline in which GSK will own a 63.5% stake while Novartis will own the remaining 36.5%. 
 
Last year, another deal was signed between Novartis and GSK where GSK will acquire Swiss major's vaccine business for $7 billion, while Novartis will purchase GSK's cancer drugs portfolio. The two companies will also combine their over-the-counter drug businesses under Glaxo’s management. 
 
In April last year, Novartis had agreed to divest its global animal health business to Lilly by transferring it to Elanco India, an affiliate of Lilly. 
 
"Proceeds of Rs 86.6 crore from slump sale of the animal health division to Elanco India have not been accounted for in the quarter as the transaction is subject to legal and regulatory approvals," Novartis said in the statement. 
 
In January this year, Novartis AG completed sale of its animal-health division to Eli Lilly &amp; Co for $5.4 billion as part of the Swiss drug giant’s portfolio overhaul. 
 
The sale of the animal-health division is part of a complex overhaul of Novartis that will enable it to focus on three core businesses—pharmaceuticals, eye care and generic drugs. 
 
Of late, <a href="http://www.businessinsider.in/searchresult.cms?query=pharma">Indian pharmaceutical sector</a> has been seeing intense M&amp;A activity. In March, <a href="http://www.businessinsider.in/searchresult.cms?query=Sun+Pharmaceutical+Industries+">Sun Pharmaceutical Industries</a> completed a $3.2 billion acquisition of <keyword id="82365" type="CITY" weightage="20" keywordseo="Ranbaxy-Laboratories">Ranbaxy Laboratories</keyword> Ltd to create India’s largest drug maker, with a local market share of 10%, and the world’s fifth-biggest generic pharmaceutical firm by revenue. 
 
The deal was closed after Sun Pharma faced mounting challenges procuring approvals from authorities including the courts, capital markets regulator and anti-trust watchdogs in India and the US. Sun Pharma and Ranbaxy also overcame allegations of insider trading that cast uncertainty over the deal. 
 
Other Indian pharma firms also have been aggressively looking at acquisitions in order to gain faster and easier access to new territories, increased balance sheet strength and new drug molecules. 
 
In July, Lupin acquired Russia-based ZAO Biocom for an undisclosed amount, entering a country that will be one of the top eight markets for drugmakers by 2018. 
 
The deal followed just two months after Lupin acquired Brazil-based Medquimica Industria Farmaceutica SA. In March 2014, it also purchased Mexican ophthalmic drug maker Laboratorios Grin SA, the fourth-largest pharma company in Mexico, for an undisclosed sum. 
 
In December 2014, Aurobindo Pharma acquired US-based Natrol Inc for $132.5 million for gaining access to the latter’s nutraceutical brands in the US. In January 2014, Aurobindo bought Actavis Plc’s (now Allergan Plc) Western European businesses to gain access to products, infrastructure and a marketing set-up in seven European countries. 
 
Domestic M&amp;A activities have also been gaining traction among drugmakers as they have been trying to leverage favourable valuations. In May this year, Torrent Pharma acquired ZYG Pharma Pvt Ltd that manufactures dermatological formulations such as creams, ointments, gels and lotions. This came after its December 2013 acquisition of Mumbai-based Elder Pharmaceuticals Ltd for around Rs 2,000 crore that gave it access to Elder’s brands in women’s healthcare, pain management and nutraceuticals. 
 
In addition, <a href="http://www.businessinsider.in/searchresult.cms?query=cadila">Cadila Healthcare</a> recently emerged the front-runner to snap the generic sterile injectables business of Ahmedabad-based Claris Lifesciences Ltd. 
 
Outbound M&amp;As in the pharma sector have specifically been driven by an increasing appetite among drugmakers for acquiring firms that have approved facilities outside the country and whose products are sold in expanding overseas markets. Indian drugmakers have also been looking for intermediaries and distributors with established, large distribution and marketing networks as snapping such players would help them market own products in international geographies. 
 
The series of acquisitions has also enlivened investors’ interest in pharma companies. 
 
Over the last year, Singapore’s Temasek Holdings has invested as much as $600 million to buy stakes in Intas Pharmaceuticals, Glenmark Pharmaceuticals and Sun Pharmaceutical Industries. 
 
According to a recent study by PricewaterhouseCoopers, India is expected to be one of the top 10 pharmaceutical markets by sales and reach a value of around $50 billion by 2020. 
 
Indian pharma firms are already among the global leaders in producing generics, accounting for more than 20% of the world’s generics. According to PwC, around $70 billion worth of drugs are expected to go off patent in the US over the next three years, and India is capable of manufacturing a substantial share of the product to support the resulting generics opportunities.

Indian pharma sector is going through an interesting phase with Novartis being the latest

Drug major Sun Pharmaceutical Industries today said it is reviewing a complaint filed against it and its subsidiaries by <keyword id="2851861" type="UNKNOWN" weightage="80" keywordseo="Meijer-Inc">Meijer Inc</keyword> alleging anti-trust and other violations in connection with Ranbaxy securing markexclusivity for certain products. 
 "Meijer Inc filed a purported class action complaint on May 12, 2015 against the company and its certain subsidiaries, alleging antitrust and RICO Act violations in connection with Ranbaxy securing market exclusivity as part of the <keyword id="6354656" type="ORGANIZATION" weightage="80" keywordseo="FDA">FDA</keyword>'s approval for certain products," Sun Pharmaceutical Industries said in a filing to BSE. 
 
The company is reviewing the complaint and has "no comments at this time," it added. 
 As per reports, <keyword id="82365" type="CITY" weightage="80" keywordseo="Ranbaxy-Laboratories">Ranbaxy Laboratories</keyword> has been sued in the <keyword id="142434" type="ORGANIZATION" weightage="80" keywordseo="US-District-Court">US District Court</keyword> in Massachusetts for allegedly manipulating <keyword id="396255" type="ORGANIZATION" weightage="80" keywordseo="United-States-Food-and-Drug-Administration">United States Food and Drug Administration</keyword> (USFDA) rules to keep generic drugs of other companies out of market place. 
 Passed in 1970, the Racketeer Influenced and Corrupt Organisations Act (RICO) Act is a federal law designed to combat organised crime in the <keyword id="6356955" type="COUNTRY" weightage="80" keywordseo="united-states">United States</keyword>. It allows prosecution and civil penalties for racketeering activity performed as part of an ongoing criminal enterprise. 
 Michigan retailer Meijer Inc and its distribution arm are seeking to represent buyers of Roche Holding AG's Valcyte, which treats a virus afflicting transplant patients and people with AIDS, and <keyword id="116114" type="COMPANY" weightage="80" keywordseo="Novartis-AG">Novartis AG</keyword>'s blood-pressure drug Diovan, as per the reports. 
 
Sun Pharmaceutical Industries has acquired Ranbaxy Laboratories in a $4 billion deal. 
 Ranbaxy also declined to offer any comment on the issue. Shares of <keyword id="2853204" type="UNKNOWN" weightage="80" keywordseo="Sun-Pahrmaceutical-Industries">Sun Pahrmaceutical Industries</keyword> today closed at Rs 946.45 per scrip on BSE, up 0.19 per cent from previous close.

Is Sun Pharma violating US anti-trust laws?

<keyword id="207035" type="PERSON" weightage="20" keywordseo="Dilip-Shanghvi">Dilip Shanghvi</keyword>, founder of <keyword id="144384" type="CITY" weightage="20" keywordseo="Sun-Pharmaceutical-Industries">Sun Pharmaceutical Industries</keyword>, has left behind India’s business magnate <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, who is the <keyword id="6355199" type="CITY" weightage="20" keywordseo="Reliance-Industries">Reliance Industries</keyword>, in the race to become the richest Indian. 
 This happened soon after the shares of <keyword id="44642" type="CITY" weightage="20" keywordseo="Sun-Pharma">Sun Pharma</keyword> and Sun Pharma’s research and development arm (Sparc) soared to new highs on Wednesday. 
 According to an ET report, this sudden gain was a result of the <keyword id="6356255" type="ORGANIZATION" weightage="20" keywordseo="US-Food-and-Drug-Administration">US Food and Drug Administration</keyword>’s (FDA’s) approval that SPARC received in order to manufacture a product at Sun's facility in Halol. 
 
On Wednesday, Shanghvi's networth stood at $21.5 billion while Ambani’s was $20.4 billion. 
 Earlier on Tuesday, Sun Pharma announced it will buy out <keyword id="78710" type="CITY" weightage="20" keywordseo="GlaxoSmithKline">GlaxoSmithKline</keyword>'s opiates business in Australia for an undisclosed amount to strengthen its pain management portfolio, as per an ET report. This will further strengthen the position of the Mumbai-headquartered pharmaceutical company. 
(Image: sunpharma.com)

​Dilip Shanghvi ousts Mukesh Ambani as the richest man in India

Pharmaceutical giant <keyword id="59351" type="CITY" weightage="20" keywordseo="Sun-Pharmaceuticals">Sun Pharmaceuticals</keyword> Industries Limited has clarified to the <keyword id="53581" type="CITY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> that it has not ended its three-year-old joint venture with the US-based <keyword id="113150" type="COMPANY" weightage="20" keywordseo="Merck-Co">Merck &amp; Co</keyword>. 
 
“There is no termination of JV of Sun Pharma with Merck (MSD)”, stated the company in its letter dated November 17, 2014. The company made the clarification following a media report which stated that both the companies have called off their partnership, which was signed in 2011. 
 
It further added that the company was not aware of any such development. 
 
India’s largest drug maker had entered into an agreement in 2011 to provide innovative drugs for the emerging markets which included Asia Pacific, Latin America, Eastern Europe, the Middle East and Africa. 
 
According to the report, under this partnership, Sun Pharma would have produced drugs in India while Merck or MSD, as known in the overseas markets, would have contributed its ‘regulatory competence’. The deal was signed in April 2011. 
 
Representational Image: Indiatimes.com

Indian
Drug Maker Sun Pharma Denies Calling Off JV With Merck

For eight consecutive years in a row, <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Industries chairman <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> has topped the Forbes magazine's list of the top 100 richest tycoons in India with a net worth of $23.6 billion, up $2.6 billion from last year. 
 
Surprisingly, for the first time the Forbes rich list revealed that in 2014 India is home to the top 100 richest tycoons and all are billionaires. It worth noting that the combined net worth of India's 100 wealthiest is $346 billion, up more than a third from $259 billion in 2013. 
 According to Naazneen Karmali, India editor of <keyword id="245051" type="COMPANY" weightage="20" keywordseo="Forbes-Asia">Forbes Asia</keyword>, "In 2014, India's outlook has moved very quickly from gloom to boom. The new federal government's mandate for change has sparked euphoria in the stock market causing a seismic shift in Indian wealth this year." 
 With net worth of $18 billion, 59-year-old <keyword id="207035" type="PERSON" weightage="20" keywordseo="Dilip-Shanghvi">Dilip Shanghvi</keyword>, founder of Sun Pharmaceutical Industries, India's most valuable drug maker, has bagged the second rank. He has overtaken steel baron Lakshmi Mittal, who slips to fifth place. 
 <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword>’s <keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword> moved up one notch to No. 3. His net wealth increased to $16.4 billion from $13.8 billion previously. 
 Ports magnate <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>, the biggest dollar gainer, jumped 11 spots to No. 11, adding nearly $4.5 billion to his wealth which reached $7.1 billion on soaring shares of his companies. 
 As per Forbes, Adani has been on a buying spree. He bought a port in eastern India from the <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword> for $900 million and agreed to pay $1 billion for a power plant in southern India. 
(Image:

Mukesh Ambani Remains India’s Most Richest Business Tycoon

European regulators completed their assessment of manufacturing violations at<a href="http://businesstoday.intoday.in/story/ranbaxy-poor-q4-show-shifts-focus-to-sun-pharma-plans/1/206050.html" target="_blank"> </a>Toansa plant in Punjab. The regulators found some deficiencies, but it was ascertained that they posed no serious risk to public health. 
 
The regulators said they were satisfied by the corrective measures taken by the company. They also restored the ‘good manufacturing practices’ certificate that was suspended in January 2014. 
 The <keyword id="6356255" type="ORGANIZATION" weightage="100" keywordseo="US-Food-and-Drug-Administration">US Food and Drug Administration</keyword> (FDA) had suspended manufacturing of ‘pharmaceutical ingredients’ at the Toansa plant ‘to prevent substandard quality products from reaching the US consumers.’ 
 <keyword id="6359469" type="CITY" weightage="100" keywordseo="Ranbaxy">Ranbaxy</keyword> is in the process of being acquired by <keyword id="59351" type="CITY" weightage="100" keywordseo="Sun-Pharmaceuticals">Sun Pharmaceuticals</keyword> for $3.2 billion. 
 
The European regulators sent their inspectors from Germany, Ireland and the UK, who were joined by inspectors from Switzerland and Australia, the European Medicines Agency (EMA) said in a statement. 
 
“The inspection team concluded that there was no evidence that medicines in the EU market, which have an active pharmaceutical ingredient manufactured in Toansa, were of unacceptable quality or posed any risk to the health of patients taking them,” said EMA. “This conclusion was supported by tests of samples of these medicines, all of which met the correct quality specifications.” 
 
According to the agency, “European regulatory authorities have identified the need to keep the Toansa site under close supervision and this will be done in collaboration with India and other regulatory authorities around the globe.” 
 
Ranbaxy did not immediately comment on the development. The FDA, however, has said it will not lift its ban on Ranbaxy until it is satisfied with the products.

You Searched For "Sun Pharmaceuticals" and got 12 results

Sun Pharma's Halol unit put under 'import alert' by USFDA

PTI

Zerodha founders, Rakesh Jhunjhunwala, Akshay Kumar and more donate up to ₹50 crore in FY21

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Sensex tumbles 800 points, Nifty falls below 15,000 amid weak global cues

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Indian pharma sector is going through an interesting phase with Novartis being the latest

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You Searched For "Sun Pharmaceuticals" and got 12 results

Sun Pharma's Halol unit put under 'import alert' by USFDA

PTI

Zerodha founders, Rakesh Jhunjhunwala, Akshay Kumar and more donate up to ₹50 crore in FY21

Bhakti Makwana

Sensex tumbles 800 points, Nifty falls below 15,000 amid weak global cues

IANS

Sensex plunges by 500 points, Nifty down more than 1%

IANS

Sensex jumps 500 points, Nifty above 15,200 — banking, metal stocks shine

IANS

These are 16 finalists who are contending for EY Entrepreneur of the Year award

HASAN BABAR

Indian pharma sector is going through an interesting phase with Novartis being the latest

Preetam Kaushik

Is Sun Pharma violating US anti-trust laws?

BI India Bureau

​Dilip Shanghvi ousts Mukesh Ambani as the richest man in India

BI India Bureau

Indian Drug Maker Sun Pharma Denies Calling Off JV With Merck

Purba Das

Mukesh Ambani Remains India’s Most Richest Business Tycoon

BI India Bureau

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BI India Bureau

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Dilip Shanghvi ousts Mukesh Ambani as the richest man in India