Sun Pharma gains on U.S. nod for cancer drug
Reuters Market Eye - Shares in Sun Pharmaceutical Industries Ltd (SUN.NS) rose as much as 4.5 percent after the U.S. Food and Drug Administration approved its generic version of ovarian cancer drug Doxil made by Johnson & Johnson (JNJ.N) in the U.S. market.
"Doxil generic approval came in as a positive surprise. This would add US$70-$100m in high margin sales for FY14 until further generic competition comes in," CLSA said in a note on Tuesday.
Shares in the drugmaker also gained after subsidiary Taro Pharmaceutical Industries Ltd (TARO.N) posted a 42 percent growth in October-December net profit.
Sun Pharma shares were up 3.5 percent as of 12:28 p.m.
(Reporting by Abhishek Vishnoi)
- Tweet this
- Share this
- Digg this
- Iran hangs woman convicted of killing alleged rapist
- Google's Pichai to oversee major products and services
- UPDATE 2-Motor racing-Caterham and Marussia to miss next races - Ecclestone
- UPDATE 1-UK's Labour suffers setback as leader in Scotland quits
- Modi takes tea, but no questions, in first press event as PM
The latest Reuters poll of 20 economists taken over the past week shows Asia's third-largest economy will likely grow 5.5 percent this fiscal year and 6.4 percent the next, slightly better than 5.3 percent and 6.3 percent expected in the July poll. Full Article
Euro zone risks "relapse into recession" without structural reforms - Draghi. Full Article
Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw” Full Article