Mumbai-based Sun Pharma, including its subsidiaries, and Sun Pharma Advanced Research Company (SPARC) on Wednesday announced the signing of a licensing agreement for commercialisation of benzyl alcohol and propylene glycol-free phenobarbital sodium powder for injection in the US.
Sun Pharma now has the exclusive right to commercialise Winlevi in the US and Canada. Cassiopea will be the exclusive supplier of the product
Bourses in Shanghai, Tokyo and Seoul ended on a positive note, while Hong Kong was in the red.
This is in addition to the donations being offered by Lilly to the Indian government that will potentially help alleviate the burden of COVID-19, Visini said.
Gainers on the Sensex were led by Sun Pharma, rising 2.49 per cent, followed by ONGC, Bharti Airtel, IndusInd Bank, HUL, ITC, NTPC AND ICICI Bank.
The subsidiary of Taro Pharmaceutical will acquire 100 per cent stake in the company.
SPARC will also inform the USFDA of the dismissal of the complaint to vacate the 30-month stay, the filing added.
In Asia, all leading bourses witnessed mild to heavy sell-offs on Tuesday after US-China trade war further intensified. In a retaliatory move, China on Monday said it would raise tariffs on US goods worth nearly USD 60 billion.
Pharmaceutical major Sun Pharma's stock gained 4 per cent to touch a high of Rs 406.35 on Monday after it ended Friday's trade lower at more than 8 per cent.
SEBI has advised Larsen and Toubro that its buyback offer is not in compliance with section 68(2)(d) in terms of the net debt and has therefore advised the company not to proceed with the buyback offer.
