Sun Pharmaceutical Industries Ltd (SUN.NS)
|Market Cap (Mil.):||Rs1,716,270.00|
|Shares Outstanding (Mil.):||2,071.16|
MUMBAI - Generic drugmaker Ranbaxy Laboratories Ltd on Tuesday reported its first profit in six quarters after benefiting from the exclusive U.S. launch of a cheaper copy of Novartis AG blood pressure pill Diovan.
* Shares rise 6 pct, outpacing market (Adds details on results, shares, context)
Reuters Market Eye - Ranbaxy Laboratories gains 4.5 percent. Sun Pharmaceutical Industries , which is in the process of acquiring Ranbaxy, also jumps 4.4 percent.
* Ranbaxy Laboratories gains 4.5 percent. * Sun Pharmaceutical Industries, which is in the process of acquiring Ranbaxy, also jumps 4.4 percent. * Ranbaxy posts a profit of 4.78 billion rupees ($78 million), compared with a loss of 4.5 billion rupees a year earlier. * The company's earnings got a boost from the launch of generic Valsartan in the U.S. with 180 days exclusivity - Analysts. * Valsartan is a cheaper copy of Novartis AG's blood pressure pill Diovan. * The Indian pharma index gaine
Reuters Market Eye - Sun Pharmaceutical Industries gains 3.3 percent.
* Sun Pharmaceutical Industries gains 3.3 percent. * Adds to Friday's 4.2 percent surge. * Strong cash position, receding U.S. FDA risk seen as main reasons for gains. * Company had cash and cash equivalents of 75.90 billion rupees as on March 31, 2014, annual report shows. * Gains also helped as rupee weakens, which would help boost returns from overseas markets. (firstname.lastname@example.org / email@example.com)
Reuters Market Eye - Sun Pharmaceutical Industries gains more than 6 percent.
* Sun Pharmaceutical Industries gains 2 percent. * Merck & Co Inc said it had licensed its experimental psoriasis drug to Sun. * First instance of an Indian company taking global rights for a novel drug, traders say. * Deal strengthens Sun's presence in the U.S. skin market, also boosts revenue potential, traders add. (firstname.lastname@example.org / email@example.com)
- Merck & Co Inc said it had licensed its experimental psoriasis drug to Indian generic maker Sun Pharmaceutical Industries Ltd for $80 million.
MUMBAI - India's antitrust regulator said on Thursday it had made an initial observation that Sun Pharmaceutical Industries Ltd's agreed $3.2 billion acquisition of Ranbaxy Laboratories Ltd could hurt competition, asking the companies to provide more details.