Sun Pharma Slumps, Heads Towards Biggest Fall Ever

Published: 21st July 2015 09:35 AM  |   Last Updated: 21st July 2015 11:58 AM   |  A+A-


An employee speaks on phone as he walks out of research and development centre of Sun Pharmaceutical Industries Ltd in Mumbai April 7, 2014. | REUTERS

MUMBAI: Shares in Sun Pharmaceutical Industries(SUN.NS) slumped 16 percent, heading towards their biggest daily fall ever, after the drugmaker on Monday said it sees 2016 sales flat at best.

Analysts say results warning can cut FY16 consensus earnings estimates by 8-10 percent as company struggles to fix manufacturing problems at Ranbaxy Laboratories (RANB.NS), which it bought last year.

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