Sun Pharma gains on patent win

Sun Pharmaceuticals advanced over 2% to Rs 1,188. The stock touched an intra-day high of Rs 1,189 and a low of Rs 1,180. Around 25,900 shares changed hands at the counter as against its two-week average traded quantity of 33,712 shares.
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(Updated 1025 hrs)

Sun Pharma has gained over 2% on winning a patent challenge.

The stock opened at Rs 1,189 and surged 3% to touch a high of Rs 1,201. The stock is now trading with 2% gain at Rs 1,190. Around 6,312 shares have been traded on the BSE so far.

Sun Pharma has successfully won a patent challenge of Eli Lilly's popular cancer medicine, Gemzar, in US. The company would now be able to produce a low-cost version of the same medicine in the world's largest drug market. Gemzar is Lilly's fourth best-selling drug and had worldwide sales worth $721 million for the first six months of 2009.