Shilpa Medicare declines for 3rd day

Shilpa Medicare fell 1.25% to Rs 424.30, extending losses for third day.

The stock has declined 1.6% in three sessions from its recent closing high of Rs 431 on 10 February 2021.

In the past six months, the stock has declined by 31.99% while the benchmark Sensex has added 37.61% during the same period.

In a BSE filing made during market hours today, Shilpa Medicare announced the launch of Sunitinib capsules, under the brand name SUNISHIL in India. The Sunitinib capsules has been launched in three strengths of 12.5 mg, 25 mg and 50 mg

Sunitinib malate is a novel oral multi targeted tyrosine kinase inhibitor with antitumor and antiangiogenic activities. The drug is indicated for the treatment of G.I. Stromal tumor after disease progression on or intolerance to Imatinib mesylate, advanced Renal Cell Carcinoma, and for the treatment of Unresectable or Metastatic Welldifferentiated Pancreatic Neuroendocrine Tumors with Disease Progression in adults.

The company's Sunitinib capsules will be manufactured and supplied from finished product facility at Jadcherala (Telangana). SUNISHIL will be supplied as 12.5mg, 25mg and 50mg strengths and is available in a pack size of 28 capsules.

The Sunitinib Capsules has proven to be bioequivalent to international brand SUTENT capsules of Pfizer.

Shilpa Medicare is a global brand in manufacturing and supplying of affordable API and formulation globally in different regulated markets.

The drug maker's consolidated net profit fell 10.4% to Rs 45.21 crore on a 3.8% decline in net sales to Rs 278.94 crore in Q2 September 2020 over Q2 September 2019.

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