Sun Pharma Advanced Research SPARC

Shares of Sun Pharma on Friday jumped over 5 per cent after the company reported a 43 per cent rise in consolidated net profit for the June quarter. The stock climbed 5.45 per cent to settle at Rs 943.55 apiece on the BSE. During the day, it rallied 6.31 per cent to Rs 951.25. On the NSE, it jumped 5.44 per cent to Rs 943.60 apiece. In volume terms, 4.88 lakh shares were traded on the BSE and over 1.13 crore shares on the NSE during the day. On Friday, Sun Pharma reported a 43 per cent rise in consolidated net profit at Rs 2,061 crore for the June quarter, riding on robust sales across markets. The Mumbai-based company had posted a net profit of Rs 1,444 crore in April-June period of 2021-22. Total revenue from operations rose to Rs 10,762 crore in the period under review from Rs 9,719 crore earlier, Sun Pharmaceutical Industries said in a regulatory filing. The 30-share BSE barometer jumped 712.46 points or 1.25 per cent to settle at 57,570.25.

Stocks hitting a 52-week high or new all-time high early in the year tend to have more legs for an upside for the rest of the year.

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Sun Pharma Advanced Research Company (SPARC) on Wednesday said it will seek shareholders' approval to raise up to Rs 1,800 crore through various modes, including issue of equity shares and securities

Alembic Pharma and Dr Reddy's Labs plunged 12% and 11%, respectively in intra-day trade post their June quarter results

Sun Pharma Advanced Research Company on Thursday said it has raised over Rs 1,112 crore by way of issuing warrants to the company's promoter Dilip Shanghvi and other entities

Sun Pharmaceutical Industries Managing Director Dilip Shanghvi said the company''s strategy of developing the specialty business as an additional growth engine has started delivering results

Among the sectoral indices on the NSE, Nifty FMCG gained the most - up nearly 2 per cent to 30,986 points, followed by Nifty Metal and Nifty Auto indices

The company has received a Complete Response Letter (CRL) from the USFDA for the new drug application (NDA) for Taclantis (Paclitaxel Injection Concentrate for Suspension).

In August this year, Abraxis Biosciences LLC had alleged that SPARC's filing of NDA or Taclantis injection is an act of infringement of the Orange Book listed patents for Abraxane.

Shares of SPARC were trading at Rs 146.7 apiece, up 2.34% on the BSE

Delay in commercialisation of near-term opportunities to hurt SPARC, Sun Pharma

Sun Pharma's research arm will initiate site transfer for its anti epilepsy drug Elepsia and eye drop Xelpros after failing to receive product approval from the US drug regulator.Both the products were filed from Sun Pharma's Halol plant which received US Food and Drug Administration warning letter in 2015. As such the the two products did not receive approval. Sun Pharmaceutical Advanced Research Company (SPARC) now plans to resubmit its application for product approval to the regulator from an alternate site, chief executive officer Anil Raghavan said today.SPARC had licensed these two under development drugs to Sun Pharma in lieu of an upfront payment and royalties on sales. But delays in commercialisation of the two drugs led to widening of loss to Rs 120 crore in FY 17. The company's cash flow too was impacted as it continued to invest in clinical development.The company's stock slipped 7 per cent today to close at Rs 392.95 today. On a year to date basis however the stock has .

Since July 13, the stock up 30% after the company allotted 15 million warrants at Rs 330 per share.