Sun Pharma gains after entering into public-private-partnership agreement for malaria free India

Sun Pharmaceutical Industries gained 0.66% to Rs 814.25 at 15:20 IST on BSE after the company announced that it has into a public-private-partnership agreement for Malaria Free India and other innovation in preventive health.

The announcement was made after market hours yesterday, 25 April 2016.

Meanwhile, the BSE Sensex was up 342.91 points, or 1.34%, to 26,021.84.

On BSE, so far 1.92 lakh shares were traded in the counter, compared with an average volume of 7.71 lakh shares in the past one quarter. The stock hit high of Rs 816.90 and low of Rs 797 so far during the day.

The large-cap company has an equity capital of Rs 240.67 crore. Face value per share is Re 1.

Sun Pharmaceutical Industries announced that Indian Council of Medical Research (ICMR), Ministry of Health & Family Welfare (MOHFW), Govt. of India, Govt. of Madhya Pradesh and Sun Pharma entered into a public-private-partnership agreement for Malaria Free India and other innovation in preventive health. This was announced by Dr Soumya Swaminathan, Director General - ICMR, Principal Secretary Health Gauri Singh Govt of Madhya Pradesh and Dilip Shanghvi, Managing Director, Sun Pharma as a unique effort to draw public-private sector collaboration in promoting preventive health measures. The public private-partnership stakeholders will jointly undertake malaria control & elimination programme by setting-up Management & Technical Committees to provide oversight for disease surveillance & elimination.

Under the aegis of this unique public-private-partnership, ICMR, MOHFW, Govt. of India, Govt of Madhya Pradesh and Sun Pharma will establish a malaria elimination demonstration project titled Malaria Free India, to support the national framework for elimination of malaria in India. The demonstration project will be launched in one of the most malaria endemic districts of Madhya Pradesh and implemented in a phased manner, beginning with Mandla district of Madhya Pradesh. The public-private-partnership stakeholders will execute the malaria elimination programme over a span of 3 to 5 years covering over 1,200 villages in Mandla district.

Sun Pharmaceutical Industries' consolidated net profit jumped 258.3% to Rs 1416.60 crore on 2.3% rise in net sales to Rs 7046.57 crore in Q3 December 2015 over Q3 December 2014.

Sun Pharma is a specialty generic pharmaceutical company and India's top pharmaceutical company.

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