Page 12 - Sun Pharma

Sun Pharma Q3 profit rises 5% to Rs 2,166 cr; interim dividend approved

Sun Pharma on Tuesday reported a consolidated net profit of Rs 2,166 crore for the third quarter ended December 31, 2022. The Mumbai-based company had posted a net profit of Rs 2,059 crore for October-December period of the previous fiscal year. Total revenue from operations stood at Rs 11,241 crore in the period under review. It was Rs 9,863 crore in the year-ago quarter, Sun Pharmaceutical Industries said in a regulatory filing. On February 28, 2022, the company's subsidiary Taro Pharmaceutical Industries had acquired all of the outstanding capital stock of Galderma Holdings Inc; Proactiv YK ; The Proactiv Company Corporation ; and its other assets, the drug major said. Accordingly, results for the quarter and nine months ended December 31, 2022 are not comparable to the year-ago periods', it noted. The company's board, which met on Tuesday, also approved an interim dividend of Rs 7.50 per share of Re 1 for 2022-23. Shares of the company were trading 1.11 per cent down at Rs

Sun Pharma nears 52-week high ahead of Q3 results; stock up 7% in a month

In the past one month, Sun Pharma outperformed market as shares surged 7 per cent, as compared to 2.5 per cent decline in the S&P BSE Sensex

Sensex sheds 237 pts dragged by HUL, RIL, Infosys; Nifty ends below 18,050

Closing Bell: Broader markets bled more than benchmarks with the BSE Midcap and Smallcap indices falling up to 0.7 per cent

Sun Pharma to acquire US-based Concert Pharmaceuticals for $576 million

Deal size could expand to $827 mn if additional milestone-based payments are made

USFDA pulls up Sun Pharma for manufacturing lapses in Halol plant

The US health regulator has pulled up drug major Sun Pharma for manufacturing lapses, including failure to follow appropriate written procedures designed to prevent microbiological contamination of drug products, at its Gujarat-based plant. In a warning letter, the US Food and Drug Administration (USFDA) pointed out various lapses at the Halol plant which produces finished pharmaceutical products. "This warning letter summarises significant violations of Current Good Manufacturing Practice (CGMP) regulations for finished pharmaceuticals... Because your methods, facilities, or controls for manufacturing, processing, packing, or holding do not conform to CGMP, your drug products are adulterated," the USFDA stated. The health regulator inspected the manufacturing facility from April 26 to May 9, 2022. A warning letter is issued when the US health regulator finds that a manufacturer has significantly violated its regulations. In the letter to Mumbai-based company, the USFDA pointed out

Sun Pharmaceuticals launches drug for advanced breast cancer patients

Sun Pharmaceutical on Wednesday launched a novel anti-cancer drug Palbociclib under the brand name of Palenotm for patients with advanced breast cancer.

Sensex sinks 389 pts, Nifty below 18,500; IT, PSBs crack; HCL Tech down 7%

CLOSING BELL: Sectorally, defensive indices like the Nifty FMCG and Pharma held gains as they rose 0.8 per cent and 0.4 per cent

Sun Pharmaceuticals' Halol plant gets 'import alert' from USFDA

The USFDA had imposed an import ban on the Halol plant in December 2015 too

Sun Pharma slips nearly 4% as USFDA issues import alert on Halol facility

For the year ended March 31, 2022, supplies to the US market from the Halol facility accounted for approximately 3 per cent of the company's consolidated revenues.

Dr Reddy's, Sun Pharma recall products in US for manufacturing issues

Drug majors Dr Reddy's Laboratories and Sun Pharma are recalling different products in the US market for manufacturing issues, according to the US Food and Drug Administration. As per the enforcement report by the US health regulator, the US-based arm of Dr Reddy's Laboratories is recalling over 48,000 cartons of a drug used to treat sneezing, runny or stuffy nose. It is recalling 25,176 cartons of 30-count tablets and 22,968 cartons of 20-count tablets. According to USFDA, Dr Reddy's Laboratories is recalling the affected lot due to "failed stability specifications". New Jersey-based Dr Reddy's Laboratories, Inc initiated the Class III recall on November 21 this year. As per USFDA, a Class III recall is initiated in a "situation in which use of, or exposure to, a violative product is not likely to cause adverse health consequences". The health regulator further said the US-based arm of Sun Pharma is recalling 14,064 cartons of a medication to treat erosive esophagitis or heartburn

After the anti-diabetic market, India's cardiac market in for a shake-up

After the anti-diabetic market, India's cardiac market in for a shake-up

World in turmoil, domestic pharma firms target India for healthy growth

Share of India revenue in home-grown firms' consolidated turnover rising over the years

LIC trims stake in large-caps: Check how Sun Pharma, Maruti look on charts

The technical outlook for Sun Pharma and Maruti remains bullish, while the trend for Bajaj Auto is looking weak on charts. Power Grid, meanwhile, needs to overcome the hurdle of Rs 240 level

Inflows in Tata Motors stock may surge as it replace Dr Reddy's in Sensex

Change effective from Dec 19, but adjustment will take place on Dec 16. After DRL's deletion, Sun Pharma will be the only healthcare stock in the index

Sensex gyrates 537 points, ends 152 pts down; Nifty PSU Bank index rises 4%

CLOSING BELL: The Nifty50, meanwhile, shut shop at 18,157, down 46 points or 0.25 per cent

Stocks to watch: Tata Motors, Coal India, Paytm, Sun Pharma, GCPL, VST Inds

Stocks to watch today: Tata Motors, Pidilite Industries will report the July-September quarter (Q2FY23) results on Wednesday, November 9; Coal India saw 102 per cent jump in net profit to Rs 6,044 cr

Sun Pharma's Mohali plant in Punjab receives OAI status from USFDA

The plant was inspected in August and had received a form 483 with six observations earlier

We thrive on products that have limited competition: Top Sun Pharma execs

In a Q&A, the firm's US business head and its group CFO talk about their plans to scale the specialty products business further, and dwell on the company's strategies post-pandemic

Sun Pharma Q2 PAT rises 10.5% YoY to Rs 2,262 crore on robust sales

Gross sales came in at Rs 10,809.2 crore, growing by 13.1% over Q2 last year

Sensex gains 375 pts, ends above 61K; Nifty atop 18,100; IT, metal lead

MARKET WRAP: Pharma, power and IT stocks were the major gainers in trade on Tuesday, while index heavyweight Reliance Industries and select banking shares ended on a tepid note.