 "Sun Pharma Q2FY24 results: Net profit surges 5% to Rs 2,375.5 crore")
Pharma major Sun Pharmaceutical Industries Limited, on Wednesday, reported a 5 per cent rise in its net profit in the July-September quarter to Rs 2,375.5 crore as compared to Rs 2.262,2 crore in the same quarter last year. As compared to Rs 2,022.5 crore in the previous quarter, the net profit was up 17.4 per cent.
The company's revenue from operations was up 11.3 per cent to Rs 12,192.4 crore during the quarter from Rs 10,952.2 crore in the same quarter last year. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) was Rs 3,179 crore.
The company's margin was at 26.1 per cent.
Last month, the company announced that the United States Food and Drug Administration (FDA) has accepted the New Drug Application (NDA) for deucruxitinib, an oral selective inhibitor of Janus kinases JAK1 and JAK2. The NDA sought approval for treating adults with moderate to severe alopecia areata, a chronic autoimmune disease resulting in partial or complete hair loss on the scalp and body.
Later, Zydus Lifesciences said it had inked a pact with Sun Pharma to sell in the country an oral treatment medication for anaemia associated with chronic kidney disease (CKD). "The companies have entered into a licensing agreement to co-market the innovative drug, Desidustat, in India," Zydus said in a regulatory filing.
Under the terms of the agreement, Zydus has granted Sun Pharma semi-exclusive rights to co-market the product in India, it stated. Sun Pharma will market the drug under the brand name Rytstat
On Wednesday at 1:40 pm, the drug major's shares were trading 0.8 per cent in the green at Rs 1,097.7 apiece on BSE.