Page 17 - Sun Pharma

Sun Pharma's stock dips before Q1 results

Sun Pharmaceutical Industries hit a four-year low of Rs 451 a share on the BSE exchange, a day before the largest medicine exporter is to announce its quarterly results. The stock had fallen five per cent on Wednesday to Rs 474.7, after a 31 per cent drop in sales for US subsidiary Taro. The company had cited a "difficult generic pricing environment" for the downfall.This has mean a nearly 20 per cent drop in the share over 16 trading sessions since the recent high of Rs 588 on July 19. A Bloomberg poll average of 18 analysts says the company is expected to report a 42 per cent decline in net profit for the quarter ending June, due to shrinking margin from the US business. Sun Pharma is also facing a challenge in its earnings. Its unit at Halol in Gujarat continues to be under the US sector regulator, the FDA's watch, hitting sales and profit in the biggest international market. The facility, catering to the US market, first got a warning letter from the FDA in 2015. Even after ...

Sun Pharma hits 52-week low on Taro's weak June quarter results

The stock slipped 5% to Rs 475, also its 52-week low on BSE in early morning trade.

Sun Pharma inks $55.5mn deal with Samsung BioLogics for anti-psoriasis drug

The agreement was signed at Samsung BioLogics' headquarter in Incheon, South Korea

Sun Pharma to develop chikungunya, zika drugs

Sun Pharmaceutical Industries has tied up with Pune-based National Institute of Virology to develop new drugs to treat chickungunya, dengue and zika. The partnership is a part of company's plans to develop drugs which cater to unmet needs of patients. Currently there are no vaccines or specific drugs to treat them and thus pose a health concern globally.Under the agreement NIV will conduct the tests on biological, chemical and phytopharmaceutical (plant based) molecules developed by the company against the viruses." We will work with NIV on pre-clinical studies and based on the results we will conduct clinical trials," said Dr Altaf Lal, senior adviser (global health and innovation), Sun Pharma.Sun Pharma did not disclose project funding and commercial development details.The tie up is also in sync with government's Make in India plan, the company said. Sun Pharma's agreement with NIV follows its MoU with Indian Council for Medical Research for conducting joint scientific research ...

Sun Pharma's extra discount to tide over GST wave

Sop for stockists to ensure easy availability of medicines

Sun Pharma's niche drug ramp-up key to growth

Despite the Zetia launch, FY18 could be subdued given pricing pressures

Sun Pharma wants to rise on niche route

Lost 50% market value in 2 years due to competition

Dilip Shanghvi repositions Sun Pharma in US as a specialty drugmaker

Company has lost 50% market value in 2 years due to competition

Pharma shares gain; Nifty Pharma index up 5% in three days

In past two weeks, till Monday, the pharma index tanked 15%, against 2% rise in Nifty 50 index.

Sun Pharma recalls 13,000 bottles of chewable Cetirizine for children in US

Sun Pharmaceutical Industries Inc is recalling 13,200 bottles of the tablets in the strength of 5 mg

Sun Pharma tanks 12% to hit its 52-week low; stock top Sensex loser

On the BSE, over 19 lakh shares exchanged hands against its two-week average of 5 lakh shares

Significant price erosion in US takes toll on Sun Pharma

After the disappointment by Taro (Sun Pharma's US subsidiary) earlier this week, the stage was set for a weak show by Sun Pharma in the March 2017 quarter (Q4). With premium pricing of products, Taro had so far driven US sales and margins of Sun Pharma, which faces delayed product approvals and launches on the back of the Warning letter issues by the US FDA to its Halol plant. With Taro's portfolio, primarily dermatology, under pricing pressure, Sun was bound to see pressure in US sales. However, Sun's results were way below expectations and hence, after Monday's cut due to Taro (Kotak Institutional Equities had cut FY18/19 estimates by three per cent each) analysts could further cut their earnings estimate.Taro contributes more than half to Sun's US sales, and saw revenues decline 26 per cent year-on-year in Q4; fall in operating and net profit was steeper at 44 per cent and 28 per cent. Sun's US sales at $381 million, thus fell by 34 per cent. Excluding Taro, the pressure on US ...

Sun Pharma Q4 net declines 14% to Rs 1,223 cr, warns of fall in FY18 sales

rmaceutical Industries has guided for a single digit decline in sales owing to regulatory challenges following a 14 per cent decline consolidated net profit in fourth quarter FY 18.Net profit for quarter dropped to Rs 1223 crore as against Rs 1416 crore in same period last year. Total revenue including other income fell 6.3 per cent to Rs 7361 crore on a year on year basis.Increased competition, pricing pressure and regulatory challenges continue to impact sales in US market and sales from the geography declined 34 per cent on a year on year basis. Sun Pharma's subsidiary Taro also reported a weak result and its sales were lower by 26 per cent. Also Sun Pharma's fourth quarter sales in last fiscal were boosted by contribution from its top selling anti leukemia drug Gleevec for which it had six months sales exclusivity.Sun Pharma's managing director Dilip Shanghvi said FY 18 will be a challenging year for the company and the company may see a single digit decline in revenue over FY ..

Sun Pharma Q4 net down 14% to Rs 1,223 crore

The board recommends dividend of Rs 3.5 per share

Pharma shares lose nearly Rs 60,000 crore in one week

Nifty Pharma index down 10.6% during current week, set to post its sharpest decline since Oct 2008

Sun Pharma to create drug used for treatment of psoriasis, gets USFDA's nod

Regulatory filing by FDA marks a significant milestone to advance for tildrakizumab: Sun Pharma Ceo

Sun Pharma dips 8% on Taro's weak Q4 results

The stock dipped 8% to Rs 589, its lowest level since November 2016 on BSE.

Sun Pharma's Dadra facility receives 11 USFDA observations after inspection

Drug major Sun Pharmaceutical Industries has received 11 observations from the US health regulator after inspection of its Dadra facility. The company's Dadra facility underwent an inspection by United States Food and Drug Administration (USFDA) recently. This inspection was completed on April 13, 2017, Sun Pharmaceutical Industries said in a BSE filing today. "A Form-483 observation letter was issued by the USFDA post the inspection, listing 11 observations," it added. The company, however, did not provide any details about the observations made by the US health regulator. As per USFDA, a FDA Form 483 is issued to firm management at the conclusion of an inspection,"when an investigator(s) has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts". It notifies the company's management of objectionable conditions at the facility. "We are currently in the process of responding to the said letter to

Sun Pharma slips 3% after US FDA visit at Dadra plant

Dadra is firm's second most important plant serving US market, contributes $250 mn; Stock dips 3%

Sun Pharma looks to shine with tiny deals

Mumbai, 27 MarchSun Pharmaceutical's subsidiary, Taro, made a tiny acquisition of Thallion Pharmaceuticals for $1.7 million in Canada on March 17. It was the ninth acquisition by Sun Pharma and its subsidiaries in the previous two years since it made a $4.2-billion big-bang acquisition of Ranbaxy Laboratories in 2015.Till the acquisition of Ranbaxy, the company had made only seven acquisition in 18 years, including Taro Pharma in Israel in 2010. The first was in 1997, when it acquired US-based Caraco for $37.5 million. This gave the Dilip Shanghvi-promoted company an entry into the lucrative US markets."With the Ranbaxy acquisition, Sun Pharma got a wide marketing platform," says Ajay Garg, managing director, Equirus Capital, a home-grown investment banking firm advising on pharma mergers and acquisitions. "Following this, they have adopted a string of pearls strategy by largely acquiring specialty product companies which they can milk well across the marketing platform."Thallion ...