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Declining sale of key drug weighs on Sun Pharma, stock down 7% in 2 days

Sales of acne drug Absorica were down 26 per cent on a sequential basis in the March quarter

Declining sale of key drug weighs on Sun Pharma, stock down 7% in 2 days
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Ram Prasad Sahu
TThe Sun Pharma stock has shed nine per cent last week, as the declining sales trend for a key specialty product, coupled with worries over continued price erosion, weighs on the drug major’s revenues and earnings. Given that specialty products are expected to be the mainstay of Sun Pharma’s revenue growth amid rising pressures in the generic business, hurdles for its specialty pipeline would have an impact on earnings.

One such specialty product whose revenues are under pressure is acne drug Absorica. Kartik Mehta of Deutsche Bank says that revenues from the drug declined 26 per cent on a sequential basis

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