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

REUTERS SHOWCASE

India-U.S. Talks

India-U.S. Talks

Kerry to woo Modi's India, but quick progress unlikely  Full Article 

Paring Debt

Paring Debt

Jaiprakash to sell hydro plants to Reliance Power  Full Article 

Mideast Conflict

Mideast Conflict

U.N. Security Council calls for humanitarian ceasefire in Gaza  Full Article 

Market Eye

Market Eye

Foreign investors prefer Indian cyclicals, utilities - Macquarie  Full Article 

Reuters India Mobile

Reuters India Mobile

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