Tag: sunpharma

Shares of Sun Pharmaceutical Industries slipped 4 percent to Rs 975 on the BSE in Thursday’s intra-day after the company said that the US health regulator had put its manufacturing facility at Halol under import alert. “This is with respect to our communication dated May 10, 2022, and August 13, 2022, regarding the USFDA inspection at the Company’s Halol (Gujarat) facility from April 26 to May 9, 2022. We now wish to inform you that the Company has received a communication from the USFDA stating that the facility has been listed under Import Alert," Sun Pharma said in a regulatory filing.The 'Import Alert' implies that all future shipments of products manufactured at this facility are subject to refusal of admission to the US market until the facility becomes compliant with CGMP (Current Good Manufacturing Practice) standards. The USFDA has excluded 14 products from the restriction, the company said. Read more

Shares of Sun Pharmaceutical Industries hit a 52 week high of Rs 721.85, up 3 percent on the BSE in intra-day trade on Tuesday after it signed an agreement with Eli Lilly to manufacture its drug, Baricitinib in India. "Sun Pharma yesterday announced that it has entered into a royalty-free, non-exclusive voluntary licensing agreement with Eli Lilly and Company for expanding access to Lilly's drug, Baricitinib in India. "Baricitinib is used in combination with Remdesivir for the treatment of suspected or laboratory-confirmed COVID-19 in hospitalized adults requiring supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO). The drug is approved by the Central Drugs Standard Control Organization (CDSCO) for restricted emergency use in India,"This is another step by Sun Pharma towards making more treatment options available to patients in India dealing with the pandemic, Sun Pharma added. Read more

Shares of Sun Pharmaceutical Industries gained by 6 per cent to Rs 600, bouncing back 8 per cent from day’s low of Rs 554, after the company’s net profit more-than-doubled at Rs 1,852 crore in December quarter (Q3FY21) compared with Rs 913.52 crore in the same quarter last year. The profit figures were above market expectations as a CNBC-TV18 poll had estimated the profit at Rs 1,334 crore. Consolidated total revenue from operations increased 8% to ₹8,837 crore as against ₹8,155 crores a year ago. Revenue was better-than-expected too as a CNBC-TV18 poll had estimated it at Rs 8,367 crore. Other income for the quarter surged to Rs 314.95 crore compared with Rs 119.88 crore in the year-ago quarter. The company declared an interim dividend of ₹5.50 per share. The board of directors has fixed February 10, 2021, as the record date for the purpose. Read more

Mumbai-based Drug producer Sun Pharmaceutical Industries reported a 70.4 per cent jump in net profit at Rs 1,812.79 crore for the quarter ended September driven by operating performance and tax credit. It had reported a net profit of Rs 1,064.09 crore in the same quarter a year ago. Analysts had projected the profit figure of Rs 1,194 crore. Revenue rose 5.3% to ₹8,550 crores compared to the year-ago period, according to a filing on Tuesday. Earnings before interest, tax, depreciation and amortization (EBITDA) climbed 22.5 per cent YoY to Rs 2,193.3 crore as compared to last year's Rs 1,789.7 crore. The company said there was an exceptional tax gain for the quarter due to creation of a deferred tax asset amounting to Rs 288.28 crore, arising out of a subsequent measurement attributable to restructuring of an acquired entity. Read more