 "Sun Pharma hits 52-week high on launch of skin infection drug 'Starizo'")
Sun Pharma stock hits 52-week high: Shares of pharmaceutical company Sun Pharma rose as much as 1.76 per cent to hit a fresh 52-week high of Rs 1,781.55 per share on Friday, August 23, 2024.
The rally in the stock price of Sun Pharma came after the company announced the launch of Starzio (Tedizolid Phosphate) in India for Acute Bacterial Skin and Skin Structure Infections (ABSSSI).
In an exchange filing, Sun Pharma said, “Sun Pharma and its subsidiaries and/or associate companies) today announced that it has launched Tedizolid Phosphate tablets 200 mg in India under the brand name ‘Starzio’.”
Starzio, an oxazolidinone-class antibiotic, is designed to treat ABSSSI with a once-daily oral regimen for six days. This contrasts with the conventional treatment, which requires twice-daily dosing over 10-14 days. Starzio is effective against gram-positive bacteria, including methicillin-resistant Staphylococcus aureus (MRSA), and offers advantages such as reduced dosing frequency and no dose adjustment needed for elderly patients or those with liver or kidney impairments.
“Drug-resistant bacteria such as methicillin-resistant Staphylococcus aureus (MRSA) causing ABSSSIs, are more challenging to treat due to the limited availability of effective treatment options in hospitals. With STARIZO, we are introducing a treatment option which is effective and has the convenience of once-a-day dosing”, said Kirti Ganorkar, CEO of India business at Sun Pharma.
Also, skin and soft tissue infections are prevalent in India, accounting for approximately 29-32 per cent of all infections in 2018-2019, often complicated by comorbidities like diabetes and renal or hepatic dysfunction.
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The company further said that it has secured rights from MSD to develop, manufacture, and market Tedizolid Phosphate in India, under a licencing agreement with Merck Sharp & Dohme Singapore Trading Pte. Ltd.
Sun Pharmaceutical Industries Limited, commonly known as Sun Pharma, is a Mumbai-based multinational pharmaceutical company. It is the largest pharmaceutical company in India.It operates globally with a strong presence in markets like the United States, India, Europe, and others.
The company specialises in manufacturing and marketing a wide range of pharmaceutical formulations in various therapeutic areas such as psychiatry, neurology, cardiology, orthopaedics, ophthalmology, dermatology, gastroenterology, and oncology, among others.
The market capitalisation of Sun Pharma is Rs 4,20,015.51 crore, according to Bombay Stock Exchange (BSE). The 52-week low of the stock is Rs 1,069 per share.
At 2:39 PM, shares of Sun Pharma were trading 1.45 per cent higher at Rs 1776 per share. In comparison, BSE Sensex was trading 0.07 per cent higher at 81,112.27 levels.