Sun Pharma gains on entering into patent licensing agreement with Takeda Pharmaceutical
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Sun Pharmaceutical Industries is currently trading at Rs. 1476.95, up by 6.50 points or 0.44% from its previous closing of Rs. 1470.45 on the BSE.
The scrip opened at Rs. 1482.95 and has touched a high and low of Rs. 1482.95 and Rs. 1470.45 respectively. So far 5202 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1638.70 on 05-Apr-2024 and a 52 week low of Rs. 977.50 on 23-Jun-2023.
Last one week high and low of the scrip stood at Rs. 1530.00 and Rs. 1467.15 respectively. The current market cap of the company is Rs. 352810.21 crore.
The promoters holding in the company stood at 54.48%, while Institutions and Non-Institutions held 36.54% and 8.97% respectively.
Sun Pharmaceutical Industries has entered into a non-exclusive patent licensing agreement with Takeda Pharmaceutical Company (Takeda) to commercialise Vonoprazan tablets 10 mg, 20 mg in India under the brand name ‘Voltapraz’. Vonoprazan is a novel, orally active potassium competitive acid blocker (PCAB), used to treat reflux esophagitis and other acid peptic disorders. Under the terms of this agreement, Takeda has granted Sun Pharma non-exclusive patent licensing rights for the commercialization of Vonoprazan in India.
In November 2023, Vonoprazan was approved by the US FDA for healing and maintenance of healing of all grades of Erosive esophagitis and relief of heartburn associated with Erosive esophagitis and in combination with amoxicillin and clarithromycin or amoxicillin alone for the treatment of Helicobacter pylori (H. pylori) infection in adults. Vonoprazan was discovered and developed by Takeda. With a novel mechanism of action, Vonoprazan inhibits the binding of potassium ions to H+ K+ ATPase (proton pump) in gastric parietal cells in the stomach thereby it suppresses basal and stimulated gastric acid secretion. The drug is approved in India for treatment of adults with Reflux esophagitis and other acid peptic disorders.
Sun Pharmaceutical Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
