Sun Pharma Recalls Antifungal Shampoo in US
- Aro is voluntarily recalling 17,664 units of Ciclopirox Shampoo in the United States due to manufacturing issues.
- Food and Drug Administration (FDA) announced that the affected batch failed to meet specified impurity or degradation standards.
- The FDA defines a Class II recall as one where use of, or exposure to, a violative product may cause temporary or medically reversible adverse health consequences, or...
Aro Recalls Ciclopirox Shampoo, Sun Pharma Reports Q2 Performance
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Updated December 25, 2023, 12:41:44 PM EST
Ciclopirox Shampoo Recall
Aro is voluntarily recalling 17,664 units of Ciclopirox Shampoo in the United States due to manufacturing issues. the shampoo is used to treat seborrheic dermatitis, a common skin condition characterized by dryness, flaking, and itching.
The U.S. Food and Drug Administration (FDA) announced that the affected batch failed to meet specified impurity or degradation standards. The nationwide recall, initiated on December 9, 2023, is classified as a Class II recall, according to the FDA’s official recall notice.
Sun Pharma and Taro Pharmaceutical Industries
Sun Pharmaceutical Industries acquired Israel-based Taro Pharmaceutical Industries in a deal valued at approximately $347.7 million in 2023, making Taro a wholly-owned subsidiary. Sun Pharma had been Taro’s majority shareholder since 2010. Sun Pharma’s official press release details the acquisition.
Sun Pharma Q2 FY24 Performance
Sun Pharmaceutical Industries, India’s largest formulation company by market share and a important exporter to the U.S., reported an 8.93% increase in revenue to ₹14,478 crore (approximately $1.73 billion USD as of December 25, 2023) in the second quarter of fiscal year 2024 (FY24). Net profit rose 2.56% year-over-year to ₹3,118 crore (approximately $373.7 million USD). Sun Pharma’s Q2 FY24 results provide the financial details.
However, formulation sales in the U.S. declined by 4.1% to $496 million.The company attributed this decrease to weakness in its generics business, which was partially offset by growth in innovative medicines. The U.S. market contributed approximately 30.1% of consolidated sales, with first-half revenue reaching $968 million.