Sun Pharma gains on US launch of Leqselvi, analysts see strong upside

Sun Pharma rises 2.7% as it launches Leqselvi in US following settlement with Incyte, with analysts projecting $200-300 million revenue from the drug in 3-5 years

India’s largest drug-maker Sun Pharmaceutical Industries (Sun) gained 2.7 per cent on Tuesday and was the highest gainer among Sensex stocks. The gains come after the pharma major entered into a settlement and licence agreement with Incyte Corporation over a litigation related to hairfall branded drug Leqselvi (Deuruxolitinib). The company has now launched the specialty product in the US market.

 

The settlement gives Sun a limited, non-exclusive licence to US patents covering the drug for non-oncology indication. This includes alopecia areata, an auto-immune disease that causes hair loss.

 

While the details are not known, Sun will make an upfront payment