Page 12 - Sun Pharma

RIL, ITC, HDFC twins lift Sensex 345 pts up; Bank Nifty hits new peak

Stock Market Live on May 29, 2023: Asian markets climbed higher after the US striked a tentative debt deal. Nikkei led gains, rising 2%. Hang Seng, Strait times, S&P/ASX 200 and Kospi rose 0.2-1%

Stocks to watch: Sun Pharma, ONGC, Tata Motors, Adani Wilmar, BBQ Nation

Stocks to watch today: From Sun Pharma to Tata Motors, here are top stocks to watch in Monday's trading session

Sun Pharma proposes to acquire Israel-based Taro Pharmaceutical Industries

Sun Pharmaceutical Industries on Saturday said it has proposed to fully acquire Israel-based Taro Pharmaceutical Industries through a reverse triangular merger. The Mumbai-based drug major said it has issued a letter to the Taro board with a proposal containing a non-binding indication of interest to acquire all of the outstanding ordinary shares for a purchase price of USD 38 per ordinary share in cash. Sun Pharma currently owns a 78.48 per cent stake in Taro. "We envisage the proposed transaction to be consummated in the form of a reverse triangular merger under the Israeli Companies Law, 1999 and practice," Sun Pharma said in a regulatory filing. The purchase price represents a premium of 31.2 per cent over Taro's closing price on May 25, 2023, a 41.5 per cent premium over Taro's average closing price in the last 60 days and a compelling liquidity opportunity for Taro's shareholders, it added. Under the indicative proposal, post the acquisition, Taro will become a wholly-owned

Sun Pharma back in black with Rs 1,984-crore net profit in Q4 FY23

The company reported an Ebitda of Rs 2,802 crore, up 19.7 per cent YoY, with a resulting Ebitda margin of 25.6 per cent for Q4 of FY23

Sun Pharma Q4: Consolidated net profit at Rs 1,984 crore, revenue up 15%

The company's consolidated revenue from operation rose by 15.7 per cent to Rs 10,931 crore for the March quarter as compared to Rs 9,447 crore in the year-ago period

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Stocks to watch on May 26, 2023: BEML, BHEL, Grasim, M&M, ONGC, Shree Renuka Sugars, Sun Pharma and Wockhardt among prominent companies scheduled to announce Q4 results on Friday.

Sun Pharma Advanced Research loss widens to Rs 81.99 cr in March quarter

Sun Pharma Advanced Research Company Ltd on Monday said its net loss widened to Rs 81.99 crore in the fourth quarter ended March 2023, impacted by higher expenses. The company had posted a net loss of Rs 71.05 crore in the same period previous fiscal, Sun Pharma Advanced Research Company said in a regulatory filing. Its revenue from operations stood at Rs 47.69 crore compared to Rs 25.24 crore in the year-ago period, it added. The total expenses in the fourth quarter were higher at Rs 140.41 crore against Rs 96.51 crore in the same period a year ago. The company further said that during the quarter, it paused the development of the 'SC0-120' programme due to changing clinical landscape as a result of which it has made provision for committed costs for this programme estimated at Rs 27 crore. For FY23, the company said its net loss stood at Rs 222.58 crore. It was at Rs 203.4 crore in FY23. The revenue from operations in FY23 was Rs 238.78 crore compared to Rs 137.25 crore in FY22

Sun Pharma recalls over 24K pre-filled syringes of generic medication in US

Drug major Sun Pharmaceutical Industries is recalling pre-filled syringes of a drug, used to treat infertility in women, in the US market due to a manufacturing issue, according to the US health regulator. In its latest Enforcement Report, the US Food and Drug Administration (USFDA) noted that the Mumbai-based drug major is recalling 24,194 prefilled syringes of Fyremadel (ganirelix acetate) injection. The company is recalling the affected lot due to the presence of particulate matter, the USFDA said. "A piece of glass was found in a prefilled syringe," it added. The product was manufactured by Sun Pharma and distributed in the US market by New Jersey-based Ferring Pharmaceuticals Inc. The company initiated the countrywide (US) recall on April 19 this year, USFDA stated. The New Jersey-based Sun Pharmaceutical Inc, a unit of the company, has already announced the recall of 16,450 vials of Norepinephrine Bitartrate Injection for "failed impurities/degradation specifications". As p

USFDA puts on hold Sun Pharma trials on dermatological drug regimen

The US health regulator has directed Sun Pharma to stop trials of a dermatological drug with a 12 mg dose regimen as its usage could lead to blood clots. The drug major on Tuesday said it had a teleconference call with the US Food and Drug Administration (USFDA) regarding a pulmonary embolism (serious adverse events) occurring at the 12 mg dose in one of the long-term Open Label Extension (OLE) studies. As a result, the agency has placed the investigational new drug (IND) on partial clinical hold due to the potential for thrombotic events and is requiring that subjects currently on the 12 mg dose in the OLE studies discontinue that dose, it added. There have been no thrombotic events reported to date for the 8 mg dose and USFDA has not placed the 8 mg dose on hold, the drugmaker said in a regulatory filing. "We are taking immediate steps to transition the patients in the OLE studies to the 8 mg BID dose arm in the ongoing studies," Sun Pharmaceutical Industries stated. No ...

USFDA puts partial clinical hold on Sun Pharma's dermatological drug

USFDA put a partial clinical hold on its application for an experimental dermatological drug due to the potential of thrombotic events

Sun Pharma's Mohali facility to pause supplies to the US; stock dips 3%

Although the overall impact could be minimal (being an OSD facility), this may lead to stricter scrutiny for other plants, said ICICI Securities in a note.

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Stocks to watch today: From Reliance Industries to ICICI Bank, here are top stocks to watch in Monday's trading session

Temporary pause in US shipments from Sun Pharma's plant in Mohali

It implies that company has to take corrective action before releasing further batches to the US

Sun Pharma may incur revenue loss for ransomware incident on March 2

Sun Pharma Advanced Research Company may incur expenses in connection with incident; India was the second most attacked country for ransomware in the APAC-Japan region in 2022

IT security incident to impact some of its businesses' revenues: Sun Pharma

Drug major Sun Pharma has said the IT security incident that happened earlier this month will impact revenues of some of its businesses. As part of the containment measures, the company proactively isolated its network and initiated the recovery process. "As a result of these measures, the company's business operations have been impacted. Consequently, revenues are expected to be reduced in some of our businesses," Sun Pharma said in a regulatory filing late in the night on March 26. The company also said it would incur expenses in connection with the incident and the remediation. Currently, the company is unable to determine other potential adverse impacts of the incident, including but not limited to additional information security incidents, increased costs to maintain insurance coverage, the diversion of management and employee time or the possibility of litigation, it added. Sun Pharma had reported the incident on March 2. The company said it promptly took steps to contain a

Sun Pharmaceuticals to see drop in revenue owing to IT security incident

Indian drugmaker Sun Pharmaceutical Industries Ltd would see a revenue drop in a few of its businesses and incur some expenses due to an IT security incident that happened earlier this month

Specialty scale-up, product mix: Sun's medicine cabinet piques brokerages

In the near term, higher R&D costs and a recent acquisition to weigh on earnings growth

Sun Pharma completes acquisition of US-based Concert Pharmaceuticals

Drug major Sun Pharma on Monday said it has completed the acquisition of US-based Concert Pharmaceuticals. In January, the Mumbai-based company inked a pact to acquire Concert in a USD 576 million deal. The drug major has successfully completed the acquisition of Concert Pharmaceuticals, Inc, a late-stage clinical biopharmaceutical company that is developing deuruxolitinib for the potential treatment of adult patients with moderate to severe alopecia areata, Sun Pharma said in a regulatory filing. "We are excited to add deuruxolitinib, a late-stage, potential best-in-class treatment for alopecia areata, to our growing global dermatology portfolio and expand our presence in the Boston biotech hub," Sun Pharma North America CEO Abhay Gandhi said. By bringing together Concert's talented team with Sun Pharma's global reach and commercial capabilities, this acquisition is an opportunity to bring deuruxolitinib to market globally and make a meaningful difference to alopecia areata patien

Sensex slips 251 pts ahead of inflation data; SBI, IT shares fall

CLOSING BELL: The NSE Nifty 50 ended 86 points lower; Broader indices log deeper cuts. Adani Group shares fall again.

Stocks to watch: M&M, Nykaa, SAIL, Sun Pharma, NALCO, Oil India, Tata Steel

Stocks to watch today: SAIL, Nykaa, Power Finance Corporation, Gujarat Gas, Castrol India, Campus Activewear will report the October-December quarter (Q3FY23) results