Sun Pharma gains as its arm enters into licensing agreement with Aclaris Therapeutics, Inc.
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Sun Pharmaceutical Industries is currently trading at Rs. 1251.35, up by 11.25 points or 0.91% from its previous closing of Rs. 1240.10 on the BSE.
The scrip opened at Rs. 1249.95 and has touched a high and low of Rs. 1254.50 and Rs. 1244.50 respectively. So far 8844 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1,254.50 on 06-Dec-2023 and a 52 week low of Rs. 922.55 on 22-May-2023.
Last one week high and low of the scrip stood at Rs. 1254.50 and Rs. 1198.40 respectively. The current market cap of the company is Rs. 297541.53 crore.
The promoters holding in the company stood at 54.48%, while Institutions and Non-Institutions held 36.44% and 9.07% respectively.
Sun Pharmaceutical Industries’ subsidiary -- Sun Pharmaceutical Industries, Inc. has entered into licensing agreement with Aclaris Therapeutics, Inc., a clinical-stage biopharmaceutical company focused on developing novel drugs for immuno-inflammatory diseases.
Under the license agreement, Aclaris granted Sun Pharma exclusive rights under certain patents for the use of deuruxolitinib, Sun Pharma’s JAK inhibitor, or other isotopic forms of ruxolitinib, to treat alopecia areata (AA) or androgenetic alopecia (AGA). The agreement includes an upfront payment of $15 million, regulatory and commercial milestones, and royalties.
Sun Pharmaceutical Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
