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Sun Pharma gains after acquiring URL generic business from Takeda

Capital Market  |  Mumbai 

The company made the announcement after market hours on Monday, 17 December 2012.

Meanwhile, the Sensex was up 76.46 points or 0.4% at 19,320.88.

On BSE, 1,689 shares were traded in the counter as against average daily volume of 52,688 shares in the past one quarter.

The stock hit a high of Rs 729.10 and a low of Rs 725.20 so far during the day. The stock had hit a record high of Rs 736 on 11 December 2012. The stock had hit a 52-week low of Rs 488.25 on 2 January 2012.

The stock had outperformed the market over the past one month till 17 December 2012, surging 5.96% compared with the Sensex's 5.11% rise. The scrip had also outperformed the market in past one quarter, rising 6.99% as against Sensex's 3.79% gain.

The large-cap company has equity capital of Rs 103.56 crore.

Face value per share is Re 1.

Sun Pharmaceutical Industries after trading hours on Monday, 17 December 2012, announced that its wholly-owned subsidiary, Caraco Pharmaceutical Laboratories, has entered into a definitive agreement with Takeda Pharmaceuticals USA, Inc, a wholly-owned subsidiary of Takeda Pharmaceutical Company, to buy the URL Pharma, Inc. generic business. Upon completion of the purchase, the non-Colcrys (colchicine, USP) generic assets of URL Pharma will be owned and managed by Caraco, said in a statement. The deal is subject to satisfaction of customary closing conditions, including applicable regulatory approvals.

Sun Pharmaceuticals Industries' consolidated net profit fell 46.5% to Rs 319.64 crore on 40.3% growth in net sales to Rs 2657.24 crore in Q2 September 2012 over Q2 September 2011.

Sun Pharmaceutical Industries is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India, the United States and several other markets across the world. In India, the company is a leader in niche therapy areas of psychiatry, neurology, cardiology, diabetology, gastroenterology, orthopedics, and opthalmology. has strong skills in product development, process chemistry, and manufacturing of complex active pharmaceutical ingredients (APIs), as well as dosage forms.

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First Published: Tue, December 18 2012. 23:32 IST