Sun Pharma expected to shine on domestic prospects, US sales ramp up

Anti-covid drug approval, new facility are the near term triggers for the pharma firm's stock

The stock of India’s largest drugmaker Sun Pharmaceutical Industries (Sun Pharma) was the biggest gainer among Sensex stocks, moving up 2.9 per cent in trade on Wednesday. The stock has extended its gains over the last four trading sessions to around 7 per cent.

The uptrend is on expectations that complex drug approvals in the US, outperformance in the domestic formulations, and incremental gains from anti-Covid launches in India will boost its top line. The decision to set up a manufacturing plant in Andhra Pradesh (AP) is also being viewed positively by the Street.

While there are multiple positives, the