Sun Pharma gains in volatile trade

Sun Pharmaceutical Industries rose 0.6% to Rs 816.55 at 14:03 IST on BSE, after the company's wholly owned subsidiary received approval from US Food and Drug Administration for its non-steroid drug BromSite.

The announcement was made on Saturday, 9 April 2016.

Meanwhile, the BSE Sensex was up 117.04 points, or 0.47%, to 24,790.88

On BSE, so far 1.53 lakh shares were traded in the counter, compared with an average volume of 4.87 lakh shares in the past one quarter. The stock was volatile. The stock rose as much as 1.74% at the day's high of Rs 825.95 so far during the day. The stock fell as much as 0.23% at the day's low of Rs 809.90 so far during the day. The stock hit a 52-week high of Rs 1,160.10 on 15 April 2015. The stock hit a 52-week low of Rs 706.40 on 24 November 2015.

The large-cap company has an equity capital of Rs 240.67 crore. Face value per share is Re 1.

Sun Pharmaceutical Industries on Saturday, 9 April 2016 announced that one of its wholly owned subsidiaries has received approval from USFDA for its New Drug Application (NDA) related to BromSite (bromfenac ophthalmic solution) 0.075% for the treatment of postoperative inflammation and prevention of ocular pain in patients undergoing cataract surgery. BromSite is the first non-steroidal antiinflammatory drug (NSAID) approved by the USFDA to prevent pain and treat inflammation in the eye for patients undergoing cataract surgery. Other NSAIDs in this class are currently indicated for the treatment of inflammation and reduction of pain.

BromSite developed by InSite Vision, is the first bromfenac ophthalmic solution formulated in DuraSite, a polymer-based formulation that can be used to improve solubility, absorption, bioavailability, and residence time as compared to conventional topical therapies. Sun Pharma acquired InSite Vision in November 2015 and is likely to commercialize BromSite through its newly formed, US-based division, Sun Ophthalmics, in the second half of 2016. As per IMS MAT January 2016, the U.S. NSAID Ophthalmic market grew by 8%, generating approximately $400 million in US sales and about 4 million prescriptions, providing an attractive market for Sun Pharma to participate.

Sun Pharmaceutical Industries' consolidated net profit jumped 258.3% to Rs 1416.60 crore on 2.3% rise in net sales to Rs 7046.57 crore in Q3 December 2015 over Q3 December 2014.

Sun Pharma is a specialty generic pharmaceutical company and India's top pharmaceutical company.

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