Sun Pharma surges after US court lifts restrictions on launch autoimmune disorder drug
Sun Pharmaceutical Industries is currently trading at Rs 1687.00, up by 34.90 points or 2.11% from its previous closing of Rs 1652.10 on the BSE.
The scrip opened at Rs 1716.85 and has touched a high and low of Rs 1735.80 and Rs 1682.65 respectively. So far 43651 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 1 has touched a 52-week high of Rs 1960.20 on 30-Sep-2024 and a 52-week low of Rs 1376.75 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs 1781.70 and Rs 1570.25 respectively. The current market cap of the company is Rs 406183.42 crore.
The promoters holding in the company stood at 54.48%, while Institutions and Non-Institutions held 36.59% and 8.93% respectively.
Sun Pharmaceutical Industries has received approval from US Court to launch LEQSELVI, a drug used to treat autoimmune disorder that causes patchy hair loss, in the US. US court has ruled in its favour and vacated a preliminary injunction effective immediately removing restrictions on it launching LEQSELVI. The company has been locked in a patent infringement litigation with Incyte Corporation over LEQSELVI (deuruxolitinib).
On April 9, 2025, the US Court of Appeals for the Federal Circuit held an oral argument on the company's appeal of the US District Court for the District of New Jersey's decision that previously granted a preliminary injunction delaying the Company's launch of LEQSELVI in the US. Shortly after the oral argument concluded, the US Court of Appeals for the Federal Circuit ruled in favour of the company and vacated the preliminary injunction effective immediately.
While the litigation between Incyte Corporation and the company continues, the preliminary injunction is no longer in effect. The company is no longer under a court order that delays or restricts the company from launching LEQSELVI. The company will disclose LEQSELVI launch plans in due course of time.
Sun Pharmaceutical Industries is among the largest specialty generic pharmaceutical company and India's top pharmaceutical company.
