Sun Pharmaceutical gains on launching Imatinib Mesylate Tablets in US

By: |
Published: February 3, 2016 12:40:51 PM

Sun Pharmaceutical shares gained over 2 per cent on Wednesday after the company and its subsidiaries launched Imatinib Mesylate Tablets (therapeutic equivalent to Gleevec for indications approved by the FDA) in US market.

Sun PharmaSun Pharmaceutical shares gained over 2 per cent on Wednesday after the company and its subsidiaries launched Imatinib Mesylate Tablets (therapeutic equivalent to Gleevec for indications approved by the FDA) in US market. (Photo: Reuters)

Sun Pharmaceutical shares gained over 2 per cent on Wednesday after the company and its subsidiaries launched Imatinib Mesylate Tablets (therapeutic equivalent to Gleevec for indications approved by the FDA) in US market. Sun Pharma’s subsidiary received final approval for Imatinib Mesylate from FDA in December 2015. Being a First-to-File product, it was granted 180 days of marketing exclusivity by FDA from the time of its launch.

At 11.35 am, Sun Pharma shares were trading 1.73 per cent up at Rs 848.80. The scrip opened at 839.05 and has touched a high and low of Rs 854.95 and Rs 830.05 respectively, in trade so far. Sensex was trading 234.02 points down at 24,304.98.

So far, around 0.98 lakh shares of Sun Pharma exchanged hands on the BSE as compared with two-week average daily volume of 2.20 lakh shares.

The promoters holding in the company stood at 54.97% while Public and Others held 45.02% and 0.01% respectively.

As part of Imatinib Mesylate Tablets launch, in addition to strengthening distribution in USA, the company has rolled-out unique Sun Pharma Imatinib Mesylate Savings Card program. This programme aims to deliver greater access to the drug for patients who have a commercial insurance but their out-of-pocket may exceed an affordable amount.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Agriculture, processed food exports shrink 21per cent in April-December
2Long-term bond, income funds still remain attractive: Fund managers
3Teamlease IPO subscribed 0.17 times on first day