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SPARC rallies on inking licensing pact with Sun Pharma

18 Jul 2016 Evaluate

Sun Pharma Advanced Research Company (SPARC) is currently trading at Rs. 366.75, up by 17.10 points or 4.89% from its previous closing of Rs. 349.65 on the BSE.

The scrip opened at Rs. 359.80 and has touched a high and low of Rs. 374.95 and Rs. 359.80 respectively. So far 219635 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 446.84 on 17-Jul-2015 and a 52 week low of Rs. 243.43 on 25-Feb-2016.

Last one week high and low of the scrip stood at Rs. 374.95 and Rs. 347.00 respectively. The current market cap of the company is Rs. 9060.92 crore.

The promoters holding in the company stood at 67.40%, while Institutions and Non-Institutions held 8.57% and 24.03% respectively.

Sun Pharma Advanced Research Company (SPARC) and Sun Pharmaceutical Industries (including its subsidiaries or associate companies) have entered into a licensing arrangement for SPARC’s ELEPSIA XR (Levetiracetam Extended Release tablets).

As per the agreement, SPARC will license ELEPSIA XR (Levetiracetam Extended Release tablets) to a wholly-owned subsidiary of Sun Pharma for the US market. SPARC will receive an up-front payment of $10 million from Sun Pharma. It is also eligible for certain additional milestone payments and defined royalties linked to any future sales of ELEPSIA XR.

ELEPSIA XR was approved by the USFDA in March 2015. However, in September 2015, SPARC received a complete response letter (CRL) from the USFDA rescinding its earlier approval, citing that the compliance status of the manufacturing facility viz., Halol site of Sun Pharma was not acceptable on the date of approval. Sun Pharma has undertaken a detailed remediation at Halol for restoring cGMP compliance status for the site.

Sun Pharma Advanced Research Company is an international pharmaceutical company engaged in research and development of drugs and delivery systems.

Sun Pharma Adv. Res Share Price

147.90 -4.25 (-2.79%)
17-Apr-2026 16:59 View Price Chart
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