Sun Pharma Group Stocks Dip on U.S. FDA Denial for its Epilepsy Drug

The U.S. Food and Drug Administration has revoked an approval issued in March to India's Sun Pharma Advanced Research Company Ltd (SPARC) to launch a drug for seizures, citing manufacturing quality problems at its production site.

The move comes as a setback to SPARC, the research arm of India's largest drugmaker, Sun Pharmaceutical Industries Ltd. The drug, Elepsia XR, was its first to receive an FDA approval.

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