Page 18 - Sun Pharma

Delhi HC rejects Sun Pharma appeal in Oxaliplatin case against Mylan Labs

Despite noting importance of first syllable of trade name, HC didn't find 'Ox' and 'Sox' similar

Updated On : 24 Mar 2017 | 5:45 PM IST

Sun Pharma, Mylan face price fixing charges in US

A class action suit has been filed against Inda-based Sun Pharmaceutical and US-based Mylan in a district court in Pennsylvania, America. Filed last week, it accuses the two companies of colluding to raise the price of albuterol sulfate tablets. Albuterol is a bronchodilator, used by patients suffering from wheezing. The suit has been filed by the United Food and Commercial Workers local unit (Local 1500); the union is the largest in New York. The suit is also against Sandoz, with the union alleging Mylan and Sandoz colluded to increase the price of Benazepril, another drug for a respiratory ailment. The allegation against Sun is that Mylan and it had raised their prices for albuterol sulfate by over 3,000 per cent between October 2013 and April 2014. Business Standard has a copy of the complaint. It reads, "Beginningin May 2013, defendants caused the price of albuterol sulfate to dramatically increase in unison. The increases were the result of an agreement among them to increase ...

Updated On : 21 Mar 2017 | 1:15 AM IST

Revival of fortunes seen for Sun Pharma

The Sun Pharma stock has tested investors' patience by underperforming the broader indices for a long period. Even recently, after disappointment with December quarter performance, it had slipped to ~622.5 levels. However, things seem to be turning around for the company, part of which is also reflecting in the stock's recovery to ~707.25 now. Large part of this 14 per cent rally has been fuelled by the clearance of Mohali plant by the US Food and Drug Administration (FDA).For one, the Mohali plant had been under import alert since September 2013. While this suggests that drug filings from the plant before the period may not have much commercial significance now, its clearance has renewed confidence in the management's ability to resolve FDA issues. The company not only had inherited Ranbaxy's plants (including Mohali) with FDA issues, but its own major plant at Halol (Gujarat) received warning letter; its resolution is crucial to drive growth. With no clarity on timeline for ...

Updated On : 20 Mar 2017 | 11:19 PM IST

US FDA ban on Sun Pharma unit lifted after over 3 years

The US Food and Drug Administration (FDA) said it would remove the nearly three-year old import sanction on Sun Pharma's Mohali plant which would allow the company to resume exports from the plant. India's largest drug maker informed the exchanges about the US FDA's intimation for removal of the plant from the Official Action Initiated (OAI) status. The proposed action will clear the path for Sun Pharma to supply approved products from Mohali subject to normal regulatory requirements."Mohali facility clearance will help Sun Pharma to expand capacity, de-risk future fillings and realize manufacturing synergies from the Ranbaxy acquisition which were long awaited by the street," said Anmol Ganjoo, director at domestic brokerage J M Financial Institutional Securities. However, he ruled out any immediate benefits from it. "Given that the pending abbreviated new drug applications would be at least 3-4 years old, we do not expect any significant launches in the near future but regular ...