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06-Sep2016

Sun Pharma advances on inking strategic distribution pact with Mitsubishi Tanabe Pharma

Sun Pharmaceutical Industries is currently trading at Rs. 783.95, up by 1.85 points or 0.24% from its previous closing of Rs. 782.10 on the BSE.

The scrip opened at Rs. 785.00 and has touched a high and low of Rs. 789.40 and Rs. 782.00 respectively. So far 46618 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 933.70 on 08-Oct-2015 and a 52 week low of Rs. 706.40 on 24-Nov-2015.

Last one week high and low of the scrip stood at Rs. 789.40 and Rs. 747.00 respectively. The current market cap of the company is Rs. 188689.51 crore.

The promoters holding in the company stood at 54.97%, while institutions and non-institutions held 34.96% and 10.07% respectively.

Sun Pharmaceutical Industries has signed a strategic distribution alliance with Mitsubishi Tanabe Pharma Corporation for these 14 prescription brands. Under this alliance, following the transfer of manufacturing & marketing rights to Sun Pharma's subsidiary in Japan, Mitsubishi Tanabe Pharma Corporation will market and distribute all the 14 brands as well as provide information on their proper use to healthcare professionals.

The pharma major initiated a phased transfer of manufacturing & marketing rights in Japan for the 14 long-listed/established prescription brands acquired from Novartis. These 14 prescription brands acquired by the company earlier this year will be transferred from Novartis Pharma K.K. to Sun Pharma's subsidiary in Japan beginning October 2016.


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