Despite short-term blip, Sun Pharma remains favourite among investors

According to Bloomberg, 30 of 41 analysts are bullish on Sun Pharma, while the remaining seven have a neutral rating and only 4 are bearish

Around six weeks ago, Sun Pharmaceutical Industries, India’s largest drugmaker, suffered a setback, which led to a selloff in the share. The US District Court of New Jersey granted Incyte’s request for a preliminary injunction against Sun Pharma’s launch of Leqselvi, a drug that treats alopecia.

 

Sun announced it would immediately appeal against the court’s decision, but the injunction prevents Sun from launching Leqselvi, until either the court rules in its favour or the expiry of Incyte’s 335 patent in December 2026.

 

However, analysts are now reviewing the decision and some say that if the base case is