Sun Pharma climbs over 5% on deal with AstraZeneca, pares gains later

The agreement will be announced later in the day at the China International Import Expo (CIIE) in Shanghai.

Shares of Sun Pharma surged as much as 5.37 per cent to Rs 453 on the BSE on Wednesday after the company announced it has entered into a licensing agreement with AstraZeneca UK Ltd. (AstraZeneca) to introduce certain novel ready-to-use (RTU) infusion oncology products in China. The agreement, it said, will help to bring cost-effective and quality drugs to patients in China.

At 10:52 am, the stock was trading over 1 per cent higher at Rs 436 apiece on the BSE and was the top gainer on the benchmark S&P BSE Sensex. AstraZeneca Pharma India, on the other hand, was also