By Pratish Narayanan
MUMBAI (Reuters) - Sun Pharmaceutical shares plunged as much as 17.6 percent on Friday,
their biggest intra-day drop, a day after U.S. authorities seized drugs made by its U.S. unit for
manufacturing-standards violations.
U.S. officials said on Thursday all medicines made at Caraco Pharmaceutical's three
manufacturing plants in Michigan were seized. This may include up to 33 drugs, including generic
versions of heart, pain and psychiatric medicines.
Sun Pharma (SUNPHARMA.NS : 1144.2 -147.35), India's largest drugmaker by market value,
owns about three-fourths of Caraco. The U.S. firm recently signed an agreement to market Sun's
Abbreviated New Drug Applications, or ANDAs, which are either approved or awaiting approval
at the U.S. Food and Drug Administration (FDA).
source : http://in.biz.yahoo.com/090626/137/batsnu.html
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