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14-Sep2018

Sun Pharma trades higher on the bourses

Sun Pharmaceutical Industries is currently trading at Rs. 662.00, up by 12.15 points or 1.87% from its previous closing of Rs. 649.85 on the BSE.

The scrip opened at Rs. 664.10 and has touched a high and low of Rs. 670.95 and Rs. 660.25 respectively.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 678.80 on 06-Sep-2018 and a 52 week low of Rs. 434.80 on 22-May-2018.

Last one week high and low of the scrip stood at Rs. 670.95 and Rs. 620.00 respectively. The current market cap of the company is Rs. 155920.11 crore.

The promoters holding in the company stood at 54.38%, while Institutions and Non-Institutions held 32.98% and 12.64% respectively.

Sun Pharmaceutical Industries and Sun Pharma Advanced Research Company (SPARC) have received approval from US Food and Drug Administration (USFDA) for the New Drug Application (NDA) of XELPROS (latanoprost ophthalmic emulsion) 0.005% for the reduction of elevated intraocular pressure (IOP, or pressure inside the eye) in patients with open-angle glaucoma or ocular hypertension. This approval is from Sun Pharma's Halol in Gujarat facility.

The company in-licensed XELPROS from SPARC in June 2015 and this approval will trigger a milestone payment to SPARC. SPARC is also eligible for milestone payments and royalties on commercialization of XELPROS in the US.

Sun Pharmaceutical Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.


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