Sun Pharma gains on U.S. nod for cancer drug

Tue Feb 5, 2013 12:55pm IST

A pharmacist gives free medicine provided by the government, to a patient inside a government hospital in Kolkata July 3, 2012. REUTERS/Rupak De Chowdhuri/Files

A pharmacist gives free medicine provided by the government, to a patient inside a government hospital in Kolkata July 3, 2012.

Credit: Reuters/Rupak De Chowdhuri/Files

Related Topics

Stocks

   

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

India-Nepal Ties

REUTERS SHOWCASE

Tackling Food Prices

Tackling Food Prices

India to free up extra 10 million tonne wheat in open market  Full Article 

Facebook Results

Facebook Results

Facebook beats Wall Street targets, stock hits record high  Full Article 

GM Recall

GM Recall

GM recalls 717,950 vehicles in U.S., not for ignition switches  Full Article 

Hyundai Motor Results

Hyundai Motor Results

Hyundai Motor Q2 profit slips as firmer won, U.S. discounts hurt  Full Article 

Nokia Results

Nokia Results

Nokia raises networks outlook after Q2 profit beats estimates  Full Article 

Factory Sector

Factory Sector

China July HSBC flash PMI at 18-month high of 52.0   Full Article 

Breakingviews

Breakingviews

Apple winds up earnings hope for new gadgets  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage