Sun Pharmaceutical Industries jumps on inking pact with Bayer
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Sun Pharmaceutical Industries is currently trading at Rs. 1328.90, up by 29.65 points or 2.28 % from its previous closing of Rs. 1299.25 on the BSE.
The scrip opened at Rs. 1299.25 and has touched a high and low of Rs. 1331.75 and Rs. 1290.70 respectively. So far 82423 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1339.95 on 16-Jan-2024 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. 1339.95 and Rs. 1294.00 respectively. The current market cap of the company is Rs. 319351.48 crore.
The promoters holding in the company stood at 54.48%, while Institutions and Non-Institutions held 36.59% and 8.92% respectively.
Sun Pharmaceutical Industries has signed an agreement with Bayer to market and distribute a second brand of Finerenone in India. Finerenone, a patented medicine is indicated to reduce the risk of sustained eGFR decline, end-stage kidney disease, cardiovascular death, non-fatal myocardial infarction, and hospitalization for heart failure in adult patients with chronic kidney disease associated with type 2 diabetes mellitus.
Under the terms of the agreement, Bayer has granted the non-exclusive rights to Sun Pharma to market and distribute a second brand of Finerenone under the brand name Lyvelsa. Finerenone was first launched by Bayer under the brand name Kerendia in 2022.
