Sun Pharma Advanced Research surges on entering into agreement with Visiox Pharma
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Sun Pharma Advanced Research Company is currently trading at Rs. 254.20, up by 4.20 points or 1.68% from its previous closing of Rs. 250.00 on the BSE.
The scrip opened at Rs. 256.35 and has touched a high and low of Rs. 262.05 and Rs. 253.35 respectively. So far 25434 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 311.90 on 17-Aug-2021 and a 52 week low of Rs. 141.00 on 31-Mar-2021.
Last one week high and low of the scrip stood at Rs. 262.05 and Rs. 243.15 respectively. The current market cap of the company is Rs. 6686.41 crore.
The promoters holding in the company stood at 68.10%, while Institutions and Non-Institutions held 3.10% and 28.81% respectively.
Sun Pharma Advanced Research Company (SPARC) has entered into an agreement with Visiox Pharma (Visiox) to grant exclusive worldwide rights (except for India and Greater China) for the development and commercialization of PDP-716 and SDN-037. Under the terms of the license agreement, SPARC will be eligible to receive an upfront payment, milestone payments and royalty on sales, in addition to 10% equity in Visiox.
The collaboration with Visiox allows company to make PDP-716 and SDN-037 available to patients seeking to overcome the challenges associated with the currently marketed formulations of these drugs.
SPARC is an international pharmaceutical company engaged in research and development of drugs and delivery systems.
