Sun Pharmaceutical Industries, an international, integrated, speciality pharmaceutical company, announced that the company has withdrawn its appeal in the lawsuit filed by erstwhile Ranbaxy Laboratories in November 2014 in a U.S. District Court against U.S. Food and Drug Administration (FDA).

This lawsuit challenged FDA's revocation of Ranbaxy's tentative approvals for its generic versions of Nexium and Valcyte in the US.

The company said, withdrawal of the lawsuit will not have any material adverse financial impact on the company.

Shares of the company gained Rs 2.75, or 0.3%, to trade at Rs 918.30. The total volume of shares traded was 11,101 at the BSE (9.46 a.m., Friday).