INSUBCONTINENT EXCLUSIVE:
Tuesday said it will make its unit new distributor for its domestic formulations business, discontinuing super stockist arrangement with
current distributor, to a wholly-owned subsidiary of Sun Pharma
This change will be made effective by Q1 FY20, post receipt of all requisite regulatory approvals," company said in a BSE filing
The stock has reversed its slide after it approached market regulator Sebi to investigate alleged second whistleblower complaint that
It described matter as selective leak of information on allegations by a whistleblower which has "damaged its reputation and eroded market
Financial advocacy website and magazine Moneylife had offered institutional investors access to second whistleblower letter, prompting
Sun complained that such access creates a "great asymmetry in information circulating among analysts, investors and media, leading to
intense speculation".
Shares of company were 5.13 per cent up at Rs 418.80 on BSE around 10.55 am
