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SPARC stock tumbles 16% on spasticity study results

Press Trust of India  |  New Delhi 

of Sun Pharma Advanced Research Company (SPARC) today slumped nearly 16 per cent after the company said its pivotal studies on treatment of spasticity in patients with multiple sclerosis did not meet the desired outcome.

The stock dropped 14.72 per cent to Rs 332 on the

On the NSE, it tanked 15.64 per cent to Rs 328.

Baclofen GRS is a novel, once-a-day formulation developed by the company's proprietary gastroretentive system (GRS) technology, SPARC said in a filing to the

SPARC CEO Anil Raghavan had said: "We are disappointed with the outcomes of these studies and will evaluate the data in greater detail to decide on our next steps.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, October 09 2017. 12:57 IST