Sun Pharma rises 2.3% on nod for generic drug

Sun Pharmaceutical Industries scrip rose Rs 32 or 2.3 per cent to close the day at Rs 1,429.20 on reports of US Food and Drug Administration’s (USFDA’s) nod for a generic drug.

The company is believed to have received final approval to market Caffeine Citrate in injection and oral solution. The stock opened at Rs 1,397 and made an intra-day high of Rs 1,441.70. The stock is trading 11 per cent lower than its 52-week high of Rs 1,600 reached on 19 May, 2009.