Sun Pharma up on patent deal with Forest Labs

Sun Pharma rose 2.6 per cent to Rs 1,149.75 after the company and its subsidiary, Caraco Pharma, entered into agreement with Forest Labs and H Lundbeck over Lexapro. Under the agreement, Sun would licence certain patent applications related to synthesis of escitalopram and citalopram to Lundbeck in exchange for an upfront payment and royalty on sales.

Caraco would take over commercialisation and sale of several products from Forest’s Inwood business. Caraco would pay Forest an advance against royalties on sales of these products. The stock made an intra-day high of Rs 1,158 and a low of 1,103.