Sun Pharmaceutical Industries rose 2.02% to Rs 819 at 09:33 IST on BSE, after the company announced positive results of two pivotal phase-3 clinical trials of Tildrakizumab in patients with moderate-to-severe plaque psoriasis.
The announcement was made after market hours yesterday, 4 May 2016.Meanwhile, the BSE Sensex was up 88.22 points, or 0.35%, to 25,189.95
On BSE, so far 65,365 shares were traded in the counter, compared with an average volume of 7.78 lakh shares in the past one quarter. The stock hit high of Rs 827.40 and low of Rs 818.80 so far during the day. The stock hit a 52-week high of Rs 1,010.10 on 25 May 2015. The stock hit a 52-week low of Rs 706.40 on 24 November 2015.
The large-cap company has an equity capital of Rs 240.68 crore. Face value per share is Re 1.
Sun Pharmaceutical Industries announced that the two pivotal phase-3 clinical trials evaluating the efficacy and safety of the investigational IL-23p19 inhibitor antibody tildrakizumab (MK-3222) in patients with moderate-to-severe plaque psoriasis met their primary endpoints for both evaluated doses. The overall safety profile of tildrakizumab in both phase-3 clinical trials was consistent with the safety data observed in previously reported studies, the company said. The preparations for submission of a Biologics License Application to the US Food and Drug Administration (USFDA) are proceeding. The detailed findings from the phase-3 clinical trials will be presented at upcoming scientific meetings, it added.
Sun Pharmaceutical Industries' wholly owned subsidiary, acquired worldwide rights to tildrakizumab from Merck, known as MSD outside the United States and Canada, in 2014.
Dilip Shanghvi, Managing Director, Sun Pharmaceutical Industries said that the company is encouraged by the results and the potential to provide a new treatment option to patients with moderate-to-severe plaque psoriasis, a disease that often takes both a physical and emotional toll on their lives.
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 Pharmaceutical Industries is a specialty generic pharmaceutical company and India's top pharmaceutical company.
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