December 27, 2017 / 6:50 AM / 3 months ago

BUZZ-India's Sun Pharma hits 5-month high after U.S. FDA accepts new drug application

** Shares of Sun Pharmaceutical Industries Ltd climb as much as 6.4 pct to 576 rupees, highest since July 27

** Co said U.S. FDA accepted a New Drug Application (NDA), filed by its unit, for OTX-101, a solution to treat dry eye disease

** “Co is one of the few drugmakers in the speciality space and a regulatory news such as this is generally met with optimism even though it could take a while before the FDA actually approves it,” says an analyst

** More than 14 mln shares change hands, over three times the 30-day avg of around 4 mln shares

** Stock top pct gainer on both the NSE index and the BSE index, and recorded biggest intraday pct gain since March 14

** Stock had shed 14.1 pct this year as of Tuesday’s close, bigger than Nifty Pharma index’s 8.3 pct fall

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