Sun Pharma rises on gearing up to introduce molnupiravir in India
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Sun Pharmaceutical Industries is currently trading at Rs. 802.30, up by 8.25 points or 1.04% from its previous closing of Rs. 794.05 on the BSE.
The scrip opened at Rs. 806.60 and has touched a high and low of Rs. 806.60 and Rs. 799.20 respectively. So far 5125 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 850.00 on 18-Oct-2021 and a 52 week low of Rs. 496.05 on 20-Nov-2020.
Last one week high and low of the scrip stood at Rs. 814.90 and Rs. 783.40 respectively. The current market cap of the company is Rs. 190519.19 crore.
The promoters holding in the company stood at 54.48%, while Institutions and Non-Institutions held 33.80% and 11.72% respectively.
Sun Pharmaceutical Industries is gearing up to introduce Merck Sharpe Dohme (MSD) and Ridgeback’s molnupiravir under the brand name Molxvir in India. The Drugs Controller General of India (DCGI) is currently reviewing clinical data of molnupiravir for the treatment of COVID-19 in adults in India.
Earlier this year, the company had signed a non-exclusive voluntary licensing agreement with MSD to manufacture and supply molnupiravir in India and to over 100 low and middle-income countries (LMICs). Molnupiravir is the first oral antiviral approved by the UK Medicines and Healthcare products Regulatory Agency (MHRA) for the treatment of mild-to-moderate COVID -19 in adults. It is under review by the U.S. Food and Drug Administration (FDA) for Emergency Use Authorisation (EUA).
Sun Pharma is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
