Page 2 - Sun Pharma Advanced Research Sparc
SPARC seeks approval for drugs from alternate sites
Sun Pharma's research arm will initiate site transfer for its anti epilepsy drug Elepsia and eye drop Xelpros after failing to receive product approval from the US drug regulator.Both the products were filed from Sun Pharma's Halol plant which received US Food and Drug Administration warning letter in 2015. As such the the two products did not receive approval. Sun Pharmaceutical Advanced Research Company (SPARC) now plans to resubmit its application for product approval to the regulator from an alternate site, chief executive officer Anil Raghavan said today.SPARC had licensed these two under development drugs to Sun Pharma in lieu of an upfront payment and royalties on sales. But delays in commercialisation of the two drugs led to widening of loss to Rs 120 crore in FY 17. The company's cash flow too was impacted as it continued to invest in clinical development.The company's stock slipped 7 per cent today to close at Rs 392.95 today. On a year to date basis however the stock has .
 "SPARC seeks approval for drugs from alternate sites")
SPARC hits 52-week high; stock up 15% in two days
Since July 13, the stock up 30% after the company allotted 15 million warrants at Rs 330 per share.
 "SPARC hits 52-week high; stock up 15% in two days")