SPARC jumps on getting nod for SEZABY from USFDA
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Sun Pharma Advanced Research Company is currently trading at Rs. 242.25, up by 2.45 points or 1.02 % from its previous closing of Rs. 239.80 on the BSE.
The scrip opened at Rs. 239.95 and has touched a high and low of Rs. 249.20 and Rs. 238.85 respectively. So far 28254 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 348.75 on 02-Feb-2022 and a 52 week low of Rs. 172.45 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 251.05 and Rs. 237.60 respectively. The current market cap of the company is Rs. 6689.13 crore.
The promoters holding in the company stood at 69.09%, while Institutions and Non-Institutions held 3.14% and 27.77% respectively.
Sun Pharma Advanced Research Company (SPARC) and Sun Pharmaceutical Industries have received approval from U.S. Food and Drug Administration (USFDA) for SEZABY (phenobarbital sodium powder for injection) for the treatment of neonatal seizures. With this approval, SEZABY becomes the first and only product specifically indicated in the U.S. for the treatment of neonatal seizures in term and preterm infants. SEZABY is expected to be available in the U.S. in Q4FY23.
SEZABY is a benzyl alcohol-free and propylene glycol-free formulation of phenobarbital sodium powder for injection. It was granted orphan drug designation by the US FDA for the treatment of neonatal seizures. SEZABY was recently licensed by SPARC to Sun Pharma. Under the terms of the license agreement, SPARC is eligible to receive a milestone payment on approval of SEZABY by the USFDA.
SPARC is an international pharmaceutical company engaged in research and development of drugs and delivery systems.
