NEW DELHI, Dec. 21 (UPI) -- Shares of Sun Pharmaceuticals fell more than 7 percent on Monday after the Indian drug manufacturer revealed it received a warning from the U.S. Food and Drug Administration.
The FDA warning over manufacturing norms was directed toward the company's largest plant in the city of Halol, located in the Indian state of Gujarat. About 15 percent of Sun Pharmaceuticals' product to the United States is made in the Halol plant. Sun Pharmaceuticals is the largest drug manufacturer in India.
The warning letters follow an inspection by FDA officials in September 2014. The warning indicates the regulatory agency is dissatisfied with remedial measures the company implemented since the inspection.
Sun Pharmaceuticals said in a statement on Saturday it previously hired consultants and made "significant investments" in automation and training to improve quality at the plant.
Products made at the Halol plant have not been banned in the United States, but the FDA has withheld approval from any new products arriving from the facility until the issues are resolved.
Sun Pharmaceuticals is already dealing with U.S. import bans on five other manufacturing sites in India.
