Sun Pharma soars on getting USFDA nod for generic Mesalamine extended release capsules
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Sun Pharmaceutical Industries is currently trading at Rs. 873.10, up by 22.95 points or 2.70% from its previous closing of Rs. 850.15 on the BSE.
The scrip opened at Rs. 850.60 and has touched a high and low of Rs. 881.40 and Rs. 850.60 respectively. So far 23822 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 966.90 on 29-Apr-2022 and a 52 week low of Rs. 652.75 on 18-Jun-2021.
Last one week high and low of the scrip stood at Rs. 891.00 and Rs. 835.25 respectively. The current market cap of the company is Rs. 203979.46 crore.
The promoters holding in the company stood at 54.48%, while Institutions and Non-Institutions held 34.46% and 11.06% respectively.
Sun Pharmaceutical Industries has received final approval from USFDA for its Abbreviated New Drug Application (ANDA) for generic Mesalamine Extended Release Capsules, 500 mg. The generic product approval is based on Pentasa Extended Release Capsules, 500mg as a reference product. Pentasa Extended Release Capsules, 500mg had annualized sales of approximately $213 million in USA.
Sun Pharmaceutical Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
