Sun Pharma tumbles after US court halts Leqselvi launch

Sun Pharmaceutical Industries slipped 4.30% to 1,778.85 after the US District Court of New Jersey has decided to grant a preliminary injunction delaying the launch of Leqselvi (Baldness treatment) in the US.

Aa result of the court's decision, Sun Pharma has been temporarily barred from launching Leqselvi until a subsequent favorable court decision or until the expiry of patent in lawsuit, whichever is earlier, it added.

Earlier on 1 August 2024, the pharma major had informed that it filed a motion seeking a preliminary injunction in a US court to prevent the launch of LEQSELVI.

Sun Pharmaceuticals Industries is a leading global pharmaceutical company with specialty and generic presence and India's top pharma company.

 

The companys consolidated net profit jumped 27.97% to Rs 3,040.16 crore on 9.01% rise in revenue from operations to Rs 13,291.39 crore in Q2 FY25 over Q2 FY24.

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