Sun Pharma Advanced Research Company is currently trading at Rs. 428.25, up by 22.10 points or 5.44% from its previous closing of Rs. 406.15 on the BSE.
The scrip opened at Rs. 424.00 and has touched a high and low of Rs. 438.35 and Rs. 422.00 respectively. So far 1,74,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 598.00 on 10-Mar-2015 and a 52 week low of Rs. 153.50 on 14-Jul-2014.
Last one week high and low of the scrip stood at Rs. 438.35 and Rs. 365.00 respectively. The current market cap of the company is Rs. 10,133.00 crore.
The promoters holding in the company stood at 67.13% while Institutions and Non-Institutions held 6.99% and 25.88% respectively.
Sun Pharma Advanced Research Company (SPARC) has licensed out Xelpros (Latanoprost BAK-free eye drops) to a subsidiary of Sun Pharmaceutical Industries for the US market. The in-licensing of Xelpros will facilitate Sun Pharma’s entry into the branded Ophthalmology segment in the US. This is a part of Sun Pharma’s strategy to strengthen its presence in the US specialty segment.
In addition to up-front payment of $3 million, SPARC will receive certain other milestone payments, both totaling to $16 million from Sun Pharma. It is also eligible for certain defined royalties and additional milestone payments linked to the actual sales performance of Xelpros.
In December 2014, the USFDA had issued a Complete Response letter (CRL) to SPARC for its New Drug Application (NDA) for Latanoprost BAK-free eye drops. This CRL has since been replied to and a response from the USFDA is awaited.
Sun Pharma Advanced Research Company is an international pharmaceutical company engaged in research and development of drugs and delivery systems.
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