Sun Pharma rises on inking licensing agreement with Zydus Lifesciences for co-marketing of Desidustat
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Sun Pharmaceutical Industries is currently trading at Rs. 1115.35, up by 4.00 points or 0.36% from its previous closing of Rs. 1111.35 on the BSE.
The scrip opened at Rs. 1113.00 and has touched a high and low of Rs. 1116.95 and Rs. 1104.00 respectively. So far 10800 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1169.90 on 03-Aug-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. 1146.05 and Rs. 1097.55 respectively. The current market cap of the company is Rs. 267501.86 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 and Zydus Lifesciences have entered into a licensing agreement to co-market an innovative drug, Desidustat in India. Desidustat is first-of-its-kind oral treatment for anemia associated with Chronic Kidney Disease (CKD) in India.
Under the terms of this agreement, Zydus has granted Sun Pharma semi-exclusive rights to co-market the product in India. Sun Pharma will market the drug under the brand name RYTSTAT. Zydus launched the drug under the brand name Oxemia in 2022 and will continue to market it. Zydus will receive upfront licensing income and is eligible to receive milestone income based on achievement of pre-defined milestones.
Sun Pharmaceutical Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
