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<keyword id="20555600" type="General" weightage="20" keywordseo="Dr-Reddys-Laboratories" source="keywords" meta.keywordsubtype="org" meta.entityname="Dr Reddy's Laboratories" meta.hostid="261" meta.entityid="Dr Reddy's Laboratories">Dr Reddy's Laboratories</keyword> and <keyword id="20026907" type="General" weightage="20" keywordseo="Sun-Pharma" source="keywords" meta.keywordsubtype="org" meta.entityname="Sun Pharma" meta.hostid="261" meta.entityid="Sun Pharma">Sun Pharma</keyword> are recalling products in the US due to manufacturing issues, as per the latest Enforcement Report by the US Food and Drug Administration (<keyword id="19914245" type="General" weightage="20" keywordseo="USFDA" source="keywords">USFDA</keyword>). According to the report, Dr Reddy's Laboratories is recalling drugs to treat insomnia and gout in the American market. New Jersey-based Dr Reddy's Laboratories, Inc., a unit of Hyderabad-based drug major, is recalling 13,752 bottles of Eszopiclone tablets, the USFDA stated. The affected lot has been produced at Dr Reddy's Bachupally plant in Telangana. As per the USFDA, the drug firm is recalling the affected lot due to "Failed Impurities/Degradation Specifications". The company issued the Class III nationwide recall on June 4 this year. As per the USFDA, a Class III recall is initiated in a "situation in which use of, or exposure to, a violative product is not likely to cause adverse health consequences". Dr Reddy's Laboratories, Inc. is also recalling 20,520 units of Allopurinol tablets in the US market due to the "presence of foreign substance". The company initiated the Class II nationwide (US) recall on June 7, 2024, the US health regulator said. The USFDA said a US-based unit of Sun Pharma is recalling 2,088 vials of Decitabine for Injection (50mg per vial) due to "CGMP Deviations". The affected lot of the chemotherapy medication was produced at Sun Pharma's Gujarat-based manufacturing plant. New Jersey-based Sun Pharmaceutical Industries Inc. initiated the nationwide Class II recall on July 2 this year. As per the USFDA, a Class II recall is initiated in a situation in which the use of, or exposure to, a violative product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote. SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/virat-kohli-not-included-in-the-rohit-sharma-led-icc-team-of-the-tournament/slidelist/111398470.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/virat-kohli-not-included-in-the-rohit-sharma-led-icc-team-of-the-tournament/slidelist/111398470.cms" target="_blank">Virat Kohli not included in the Rohit Sharma-led ICC Team of the Tournament</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank">Upcoming cars launching in India in July 2024</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a>

Dr Reddy's, Sun Pharma recall drugs in US market: USFDA

<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

<keyword id="20026907" type="General" weightage="20" keywordseo="sun-pharma" source="keywords">Sun Pharma</keyword>ceutical Industries on Thursday said it will acquire the remaining 21.52% stake in Israel-based <keyword id="20238726" type="General" weightage="100" keywordseo="taro" source="keywords">Taro</keyword> Pharmaceutical Industries for Rs 2,891.76 crore, enabling the merger of the two entities. The acquisition of 8,086,818 shares (21.52%) will be at the cost of Rs 2,891.76 crore, Sun Pharma said. The Mumbai-based drug major has agreed to acquire all of the outstanding ordinary shares of Taro for USD 43 per share in cash without interest, as per the definitive merger agreement. Sun Pharma already owns a 78.48% stake in Taro. "Over the years, with Sun Pharma's strategic interventions, Taro has remained a key player in the generic dermatology market in a challenging environment," Sun Pharma Managing Director <keyword id="207035" type="General" weightage="20" keywordseo="Dilip-Shanghvi" source="Orion">Dilip Shanghvi</keyword> said in a statement. After the merger, the combined entity will firmly move forward, leveraging its global strengths and capabilities to better serve the needs of patients and healthcare professionals, he added. Upon completion of the merger, currently expected to close in the first half of 2024, Taro will become a privately held company and its shares will no longer be listed on the NYSE. "Taro is committed to delivering high-quality products to our patients and customers around the world. This merger will further enable us to compete effectively in our products and markets," Taro CEO <keyword id="372826" type="General" weightage="20" keywordseo="Uday-Baldota" source="Orion">Uday Baldota</keyword> said. The merger agreement was unanimously recommended by the Special Committee, which was formed by Taro's Board of Directors to consider Sun Pharma's proposal. Upon receiving the unanimous recommendation of the Special Committee, and following unanimous approval by Taro's Audit Committee, Taro's Board and the Board of Directors of Sun Pharma unanimously approved the definitive merger agreement. Sun Pharma said the USD 43 per share purchase price represents a 48% premium over the closing price of USD 28.97 per share on May 25, 2023, the last trading day before Sun Pharma first submitted its non-binding proposal to Taro. The purchase price also represents a 13% increase over the initial proposed purchase price of USD 38 per share as proposed on May 26, 2023. Sun Pharma shares were trading 1.52% up at Rs 1,319 apiece on BSE.

Sun Pharma to acquire remaining 21.5% shares of Israel-based Taro for Rs 2,892 crore

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

<ul><li>The Nifty Pharma index gained 2.82% during the early trading hour.</li><li>These were the top gainers in the Nifty Pharma pack.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The Nifty Pharma index gained 2.82% during the early trading hour. Pharma stocks have been on a roll over the past few days. Nifty Pharma index was trading 382.50 points higher, while the Nifty 50 index was up 44 points at 9:30 am. These were the top gainers in the Nifty Pharma pack: Lupin gained 7%, and Cipla was up 5% The shares of Lupin Limited gained 7%, and Cipla was trading 5% higher during the trade on September 18. The jump in the shares of the pharma companies came after its Irish-peer Perrigo voluntarily recalled albuterol inhalation. This development bodes well for Lupin and Cipla. Cipla launched gProventil in April this year, and Lupin’s gProAir is expected to be launched this month. Dr Reddy’s Laboratories gains 4% Dr.Reddy’s Laboratories was the third-largest gainer in the Nifty pharma pack, trading almost 4% higher. The company has announced a settlement of litigation with a unit of Bristol Myers Squibb related to patents for Revlimid (lenalidomide) capsules, used to treat various kinds of cancer. “We are pleased with the settlement agreement, and look forward to bringing a generic version of lenalidomide to market soon subject to regulatory approval for the benefit of patients,” Dr Reddy’s Laboratories North America Generics CEO Marc Kikuchi said. Other pharma stocks surge in trade as well Other pharma were also trading higher fueled by the rally in the pharma sector. Sun Pharma, Divi’s Laboratories, Aurobindo Pharma and Torrent Pharmaceuticals are all up over 2%. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-dr-reddys-laboratories-hdfc-bank-tvs-motor-vedanta-irctc-lt-bharat-forge-hal-and-more/articleshow/78179393.cms" data-type="tilCustomLink">Top stocks to watch— Dr Reddy's Laboratories, HDFC Bank, TVS Motor, Vedanta, IRCTC, L&amp;T, Bharat Forge, HAL, and more</a> <a href="https://www.businessinsider.in/sports/news/dailyhunt-app-founders-confirm-ipl-2020-associate-sponsorship/articleshow/78169667.cms" data-type="tilCustomLink">EXCLUSIVE: Dailyhunt founders confirm IPL 2020 associate sponsorship — promise new release for Josh ahead of India’s biggest cricket tournament</a>

Top pharma stock movers — Lupin, Cipla, Dr Reddy’s steal the show

<ul><li>Over 40 states in the US have filed a lawsuit against 20 drugmakers led by Teva Pharmaceuticals, an Israeli firm, for allegedly conspiring to raise prices of drugs. </li><li>Seven Indian drugmakers - <keyword id="44642" type="CITY" weightage="20" keywordseo="Sun-Pharma">Sun Pharma</keyword>, Dr Reddy’s Laboratories, Glenmark Pharma, Lupin Wockhardt, Zydus Pharma and Aurobindo Pharma - have been named in the antitrust lawsuit. </li><li>The lawsuit alleges that the concerned pharmaceutical firms colluded to raise the prices of over 100 medicines.</li></ul> Over 40 states in the US have <a href="https://www.livemint.com/industry/manufacturing/top-indian-drug-makers-accused-of-fixing-prices-1557774708125.html">filed a lawsuit</a> against 20 drugmakers led by Teva Pharmaceuticals, an Israeli firm, for allegedly conspiring to raise prices of drugs in the US market. Seven Indian drugmakers - Sun Pharma, Dr Reddy’s Laboratories, Glenmark Pharma, Lupin Wockhardt, Zydus Pharma and Aurobindo Pharma - have been named in the antitrust lawsuit, which was filed at the end of last week following the culmination of a multi-year investigation into the US pharma industry. Sun Pharma’s share price on the Bombay Stock Exchange <a href="https://www.google.com/search?q=sun+pharma+share+price&amp;rlz=1C1GCEU_enIN820IN820&amp;oq=sun+pharma+share+price&amp;aqs=chrome..69i57j0l5.4788j1j4&amp;sourceid=chrome&amp;ie=UTF-8">fell 13% </a>yesterday before recovering. The lawsuit alleges that the concerned pharmaceutical firms colluded to raise the prices of over 100 medicines and divide up the addressable market for the medicines as opposed to competing normally against each other. Teva is said to be <a href="https://www.philly.com/business/generics-teva-pennsylvania-new-jersey-drugs-price-fixing-20190513.html">the driving force </a>behind the collusion. Between 2013 and 2015, the Israel drugmaker reportedly fixed prices on 86 medicines, the complaint from the states alleged. The price increases on some drugs were as high as 1,000%. The drugmakers have to deal with more than just the lawsuit from the states. Even the US Department of Justice is investigating the companies for antitrust violations. Speaking on the matter, a spokesperson for Sun Pharma told <a href="https://www.livemint.com/industry/manufacturing/top-indian-drug-makers-accused-of-fixing-prices-1557774708125.html">Mint</a>, ““We believe the allegations made in these lawsuits are without merit and we will continue to vigorously defend against them." If successfully argued, the lawsuit could result in billions of dollars worth of fines for the concerned companies. The fines for Indian pharma firms are expected to be in <a href="https://timesofindia.indiatimes.com/business/india-business/7-indian-pharma-cos-face-lawsuits-from-over-40-us-states/articleshow/69315711.cms">the tens of millions of range</a>, since their participation was reportedly limited. For their part, the drugmakers have argued that the price increases were a result of market factors like supply shocks and consolidation among rivals. SEE ALSO: <a href="https://www.businessinsider.in/generic-drugs-are-americas-solution-to-high-branded-drug-prices-but-recent-events-suggest-the-markets-not-working/articleshow/67200320.cms">Generic drugs are America's solution to high branded drug prices. But recent events suggest the market's not working</a>

You Searched For "sun pharmaceuticals these" and got 9 results

Dr Reddy's, Sun Pharma recall drugs in US market: USFDA

PTI

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

PTI

Sun Pharma to acquire remaining 21.5% shares of Israel-based Taro for Rs 2,892 crore

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

Top pharma stock movers — Lupin, Cipla, Dr Reddy’s steal the show

Navdeep Yadav

Seven Indian pharma companies are being dragged into a US lawsuit over high drug prices

BI India Bureau

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