The company has repaid debt of about $490 million in 9MFY21; filings for 90 ANDAs await US FDA approval
Analysts had expected the revenues to grow around 6 per cent YoY and Ebitda margins expected to improve 42 bps YoY to 23 per cent
Analysts expect earnings growth to be in the range of 30-40 per cent for drug firms owing to both domestic recovery as well as strong export opportunities
The board of directors of Sun Pharma are scheduled to meet on January 29, 2021 to consider and approve Q3 results
Sun Pharmaceutical Industries hit afresh 52-week high of Rs 568.50, up nearly 4 per cent in the intra-day trade today. It has surged 11 per cent in the past four trading days on the BSE
In the past three months, Sun Pharma underperformed the market by falling 1 per cent as compared to a 13 per cent rise in the S&P BSE Sensex till Friday
Upsides in the stock will depend on sustaining specialty and India sales growth
The company said that sales of specialty products have improved sequentially with Ilumya and Cequa reaching pre-Covid levels
Revenues remain flat, sequential improvement in India and US revenues
All that happened in the markets today
The drug major is looking to expand its specialty business across different regions like Greater China and Japan after having established presence in the US market
Sun Pharmaceutical Industries Managing Director Dilip Shanghvi said the company''s strategy of developing the specialty business as an additional growth engine has started delivering results
Sun Pharma has said it is voluntarily recalling one lot of Riomet ER oral suspension in the US market, due to the presence of a probable human carcinogen above the acceptable daily intake limit.
Sun Pharma's stock is in a rising trend
The pandemic pushes pharma companies to look at drugs that held promise in transitioning to over the counter segment
For the quarter ended June 2020, Sun Pharma reported a surprise loss due to one-time charges.
The report says if chemists are allowed to replace doctor's prescription with a generic drug, firms with high exposure to chronic therapeutic drugs will be impacted more
Sun Pharma's counter has provided a fresh breakout after retesting its rising channel on the daily chart
Leading drug makers Lupin and Sun Pharma are recalling different products in the US, according to the US Food and Drug Administration (USFDA).
Favipiravir has received authorisation from the Drug Controller General of India (DCGI) for emergency use of its product