Sun Pharma gains after launching Volini Maxx

Sun Pharmaceutical Industries rose 0.6% to Rs 624.90 at 14:34 IST on BSE after the company announced the launch of Volini Maxx, a pain relief spray.

The announcement was made during market hours today, 29 August 2018.

Meanwhile, the S&P BSE Sensex was down 84.45 points, or 0.22% to 38,812.18

On the BSE, 2.35 lakh shares were traded in the counter so far compared with average daily volumes of 6.82 lakh shares in the past two weeks. The stock had hit a high of Rs 630.50 and a low of Rs 623 so far during the day. The stock hit a 52-week high of Rs 645 on 23 August 2018. The stock hit a 52-week low of Rs 434.80 on 22 May 2018.

Sun Pharma Consumer Healthcare, a division of Sun Pharmaceutical Industries today announced the launch of Volini Maxx, a pain relief spray. Volini Maxx is a new variant of Sun Pharma's popular brand, Volini. Its unique formulation of 2% diclofenac makes it 100% stronger than the existing 1% diclofenac sprays available in the Indian market. Volini Maxx is targeted for severe pains including musculoskeletal, joint and low back.

The overall topical analgesic market in India is valued at Rs 3380 crore growing at 11% (AC Nielsen MAT June 2018). Out of this, the spray category is around Rs 356 crores growing at 18% (AC Nielsen MAT June 2018).

On a consolidated basis, Sun Pharmaceutical Industries reported net profit of Rs 1111.06 crore in Q1 June 2018 as compared with net loss of Rs 322.60 crore in Q1 June 2017. Net sales rose 15.76% to Rs 7138.83 crore in Q1 June 2018 over Q1 June 2017.

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

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