Sun Pharma

Sun Pharma Advanced Research Company may incur expenses in connection with incident; India was the second most attacked country for ransomware in the APAC-Japan region in 2022

Drug major Sun Pharma has said the IT security incident that happened earlier this month will impact revenues of some of its businesses. As part of the containment measures, the company proactively isolated its network and initiated the recovery process. "As a result of these measures, the company's business operations have been impacted. Consequently, revenues are expected to be reduced in some of our businesses," Sun Pharma said in a regulatory filing late in the night on March 26. The company also said it would incur expenses in connection with the incident and the remediation. Currently, the company is unable to determine other potential adverse impacts of the incident, including but not limited to additional information security incidents, increased costs to maintain insurance coverage, the diversion of management and employee time or the possibility of litigation, it added. Sun Pharma had reported the incident on March 2. The company said it promptly took steps to contain a

Indian drugmaker Sun Pharmaceutical Industries Ltd would see a revenue drop in a few of its businesses and incur some expenses due to an IT security incident that happened earlier this month

In the near term, higher R&D costs and a recent acquisition to weigh on earnings growth

Drug major Sun Pharma on Monday said it has completed the acquisition of US-based Concert Pharmaceuticals. In January, the Mumbai-based company inked a pact to acquire Concert in a USD 576 million deal. The drug major has successfully completed the acquisition of Concert Pharmaceuticals, Inc, a late-stage clinical biopharmaceutical company that is developing deuruxolitinib for the potential treatment of adult patients with moderate to severe alopecia areata, Sun Pharma said in a regulatory filing. "We are excited to add deuruxolitinib, a late-stage, potential best-in-class treatment for alopecia areata, to our growing global dermatology portfolio and expand our presence in the Boston biotech hub," Sun Pharma North America CEO Abhay Gandhi said. By bringing together Concert's talented team with Sun Pharma's global reach and commercial capabilities, this acquisition is an opportunity to bring deuruxolitinib to market globally and make a meaningful difference to alopecia areata patien

CLOSING BELL: The NSE Nifty 50 ended 86 points lower; Broader indices log deeper cuts. Adani Group shares fall again.

Stocks to watch today: SAIL, Nykaa, Power Finance Corporation, Gujarat Gas, Castrol India, Campus Activewear will report the October-December quarter (Q3FY23) results

Drug major Sun Pharma is recalling over 34,000 bottles of a generic medication, used to treat high blood pressure, in the US market due to failed dissolution testing. As per the US Food and Drug Administration's Enforcement Report, the US-based arm of Sun Pharmaceutical Industries is recalling lots of Diltiazem Hydrochloride extended-release capsules which are used to treat angina, high blood pressure and some types of irregular heartbeats. Princeton (New Jersey) based Sun Pharmaceutical Inc is recalling the affected lot due to "Failed Impurity (Deacetyl Diltiazem Hydrochloride) specification during stability testing and failed dissolution testing at FDA laboratory." The Mumbai-based drug major had produced the lot at its Halol-based manufacturing facility in Gujarat. The affected lot was later distributed in the market by its US-based unit. The company initiated the Class II nationwide recall (US) on January 13 this year. As per USFDA, a Class II recall is initiated in a situatio

Sun Pharmaceutical Industries on Friday said its subsidiary has received approval from the US health regulator to market a generic medication used in the treatment of multiple myeloma. The company has received final approval from the US Food and Drug Administration (USFDA) for the generic lenalidomide capsules in multiple strengths, Sun Pharma said in a statement. In June 2021, Sun Pharma entered into a settlement with Celgene Corporation (Celgene) to resolve the patent litigation regarding its generic lenalidomide capsules. Under the terms of this settlement, Celgene granted Sun Pharma a license to patents required to manufacture and sell certain limited quantities of generic lenalidomide capsules in the US, beginning sometime after March 2022. In addition, the license allows Sun Pharma to manufacture and sell an unlimited quantity of generic lenalidomide capsules in the US beginning January 31, 2026. Shares of Sun Pharma were trading 0.48 per cent down at Rs 1,002 apiece on the

Company says specialty products will continue as growth driver, will scale up investment for it

Sun Pharma on Tuesday reported a consolidated net profit of Rs 2,166 crore for the third quarter ended December 31, 2022. The Mumbai-based company had posted a net profit of Rs 2,059 crore for October-December period of the previous fiscal year. Total revenue from operations stood at Rs 11,241 crore in the period under review. It was Rs 9,863 crore in the year-ago quarter, Sun Pharmaceutical Industries said in a regulatory filing. On February 28, 2022, the company's subsidiary Taro Pharmaceutical Industries had acquired all of the outstanding capital stock of Galderma Holdings Inc; Proactiv YK ; The Proactiv Company Corporation ; and its other assets, the drug major said. Accordingly, results for the quarter and nine months ended December 31, 2022 are not comparable to the year-ago periods', it noted. The company's board, which met on Tuesday, also approved an interim dividend of Rs 7.50 per share of Re 1 for 2022-23. Shares of the company were trading 1.11 per cent down at Rs

In the past one month, Sun Pharma outperformed market as shares surged 7 per cent, as compared to 2.5 per cent decline in the S&P BSE Sensex

Closing Bell: Broader markets bled more than benchmarks with the BSE Midcap and Smallcap indices falling up to 0.7 per cent

Deal size could expand to $827 mn if additional milestone-based payments are made

The US health regulator has pulled up drug major Sun Pharma for manufacturing lapses, including failure to follow appropriate written procedures designed to prevent microbiological contamination of drug products, at its Gujarat-based plant. In a warning letter, the US Food and Drug Administration (USFDA) pointed out various lapses at the Halol plant which produces finished pharmaceutical products. "This warning letter summarises significant violations of Current Good Manufacturing Practice (CGMP) regulations for finished pharmaceuticals... Because your methods, facilities, or controls for manufacturing, processing, packing, or holding do not conform to CGMP, your drug products are adulterated," the USFDA stated. The health regulator inspected the manufacturing facility from April 26 to May 9, 2022. A warning letter is issued when the US health regulator finds that a manufacturer has significantly violated its regulations. In the letter to Mumbai-based company, the USFDA pointed out

Sun Pharmaceutical on Wednesday launched a novel anti-cancer drug Palbociclib under the brand name of Palenotm for patients with advanced breast cancer.

CLOSING BELL: Sectorally, defensive indices like the Nifty FMCG and Pharma held gains as they rose 0.8 per cent and 0.4 per cent

The USFDA had imposed an import ban on the Halol plant in December 2015 too

For the year ended March 31, 2022, supplies to the US market from the Halol facility accounted for approximately 3 per cent of the company's consolidated revenues.

Drug majors Dr Reddy's Laboratories and Sun Pharma are recalling different products in the US market for manufacturing issues, according to the US Food and Drug Administration. As per the enforcement report by the US health regulator, the US-based arm of Dr Reddy's Laboratories is recalling over 48,000 cartons of a drug used to treat sneezing, runny or stuffy nose. It is recalling 25,176 cartons of 30-count tablets and 22,968 cartons of 20-count tablets. According to USFDA, Dr Reddy's Laboratories is recalling the affected lot due to "failed stability specifications". New Jersey-based Dr Reddy's Laboratories, Inc initiated the Class III recall on November 21 this year. As per USFDA, a Class III recall is initiated in a "situation in which use of, or exposure to, a violative product is not likely to cause adverse health consequences". The health regulator further said the US-based arm of Sun Pharma is recalling 14,064 cartons of a medication to treat erosive esophagitis or heartburn