Sun Pharma shines on getting USFDA approval for generic version of Plavix

Sun Pharmaceutical Industries is currently trading at Rs. 585.00, up by 4.75 points or 0.82% from its previous closing of Rs. 580.25 on the BSE.

The scrip opened at Rs. 572.10 and has touched a high and low of Rs. 587.90 and Rs. 570.10 respectively. So far 21528 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 610.00 on 02-May-2012 and a 52 week low of Rs. 423.10 on 23-May-2011.

Last one week high and low of the scrip stood at Rs. 599.90 and Rs. 562.00 respectively. The current market cap of the company is Rs. 60685.10 crore.

The promoters holding in the company stood at 63.72% while Institutions and Non-Institutions held 25.49% and 10.80% respectively.

Sun Pharmaceutical Industries has received an approval from US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for its generic version of Plavix, Clopidogrel Tablets USP 75mg.

The generic Clopidogrel Tablets USP 75mg are therapeutic equivalent of Plavix tablets from Sanfoi-Aventis. Clopidogrel Tablets have annual sales of about $6.7 billion in the US.

Earlier in April, the company received an approval from USFDA for its abbreviated new drug application (ANDA) -- generic version of Zyprexa -- Olanzapine Tablets USP, 2.5mg, 5mg, 7.5mg, 10mg, 15mg and 20mg

Sun Pharmaceutical Industries manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India, US and several other markets across the world.