Tag: Sun Pharma

Sun Pharma enters into licensing agreement with Almirall

28/07/2016 09:45

Leading pharma company, Sun Pharmaceutical Industries Ltd has said that its wholly owned subsidiary and Almirall has entered into a licensing agreement on the development and commercialization of tildrakizumab for psoriasis in Europe. Tildrakizumab is an investigational IL-23p19 inhibitor currently being evaluated in patients with moderate-to-severe plaque psoriasis. Under terms of the license agreement, Almirall will pay Sun Pharma an initial upfront payment of USD 50 million. Phase-3 studies of tildrakizumab have recently been completed. Sun Pharma will be eligible to receive development and regulatory milestone payments and, additionally, sales milestone payments and royalties on net sales, the terms of which are confidential.

Almirall will be able to lead European studies, and participate in larger Global clinical studies for psoriasis indication subject to the terms of the Sun Pharma – Merck agreements, as well as certain cost sharing agreements. Sun Pharma will continue to lead development of tildrakizumab for other indications, where Almirall will have right of first negotiation for certain indications in Europe.

Meanwhile, shares of the company were trading at Rs 811.10 apiece, up 0.39 per cent from the previous close at 09:40 hours on BSE.

Market cap of top 8 Sensex firms jumps Rs 21,296 cr

Market cap of top 8 Sensex firms jumps Rs 21,296 cr

14/03/2016 15:33

The overall market capitalisation of eight of the top ten Sensex firms climbed by Rs 21,296 crore last week led by HDFC which emerged as the biggest gainer, while Infosys and CIL were the lone losers.

The market cap of HDFC jumped by Rs 4,777.47 crore to Rs 183,004.82 crore last week when the 30-share Sensex logged a second straight weekly gain, advancing by 72 points to end at 24,717.99 driven by robust foreign fund flows amid hopes that the RBI may cut interest rates as the government stuck to its fiscal prudence commitment, and on strong global cues after ECB’s robust easing measures and an oil price rally.

ITC witnessed an Rs 4,100.76 crore rise in its market value to Rs 258,187.17 crore last week while the market cap of ONGC surged by Rs 3,507.75 crore to Rs 175,473.10 crore.

The market capitalisation of RIL surged by Rs 3,012.13 crore to Rs 329,082.12 crore while that of drug major Sun Pharma climbed by Rs 2,539.03 crore to Rs 208,838.67 crore.

HDFC Bank’s market cap advanced by Rs 1,870.26 crore to Rs 259,928.45 crore last week while that of TCS jumped by Rs 1,369.45 crore to Rs 466,203.25 crore and that of HUL rose by Rs 119.01 crore to Rs 183,745.09 crore.

Sun Pharma Q3 net zooms nearly 4-fold to Rs 1,417 cr

Sun Pharma Q3 net zooms nearly 4-fold to Rs 1,417 cr

12/02/2016 16:56

Drug maker Sun Pharmaceutical Industries on Friday reported nearly four-fold growth in its consolidated net profit at Rs 1,416.60 crore for the quarter ended December 31, 2015, helped by sharp increase in other income, lower tax cost and operational performance.

“The company had posted consolidated net profit of Rs 395.33 crore for the quarter ended December 31, 2014,” Sun Pharmaceutical said in a filing to Bombay Stock Exchange.

The consolidated net sales from operation rose 2 per cent to Rs 7,046.57 crore in Q3FY16 from Rs 6,885.46 crore in Q3FY15.

The other income of the company increased to Rs 209.20 crore from loss of Rs 76.51 crore in the year ago period. Tax expenses declined 80.4 per cent on yearly basis to Rs 202.03 crore versus Rs 1,028.96 crore in the year ago period.

India sales for Q3FY16 was Rs 1,890 crores, up 8 per cent, from the corresponding quarter last year and accounting for 27 per cent of total sales. Sales in the US were US$ 486 million for the quarter, a reduction of 11 per cent over same period last year and accounted for 45 per cent of total sales.

Commenting on Q3 earnings, Dilip Shanghvi, Managing Director of the Company said, “Our result for Q3 indicates sequentially improving quality of business and performance. This is despite adverse currency movements and increase in R&D investments. The synergy benefits of the Ranbaxy acquisition have begun to reflect in our financials. We remain committed in allocating required resources for enhancing our specialty and complex generics pipeline.”

Ahead of the earnings report, shares of company ended Friday’s trade at Rs 848.35 apiece, up 2.09 per cent, on BSE.