Sun Pharmaceutical Industries rose 1% to Rs 786.25 at 9:22 IST on BSE after the company said it launched ready-to-administer medicine bag for oncology treatment.
The announcement was made before trading hours today, 11 July 2016.Meanwhile, the BSE Sensex was up 388.78 points, or 1.43%, to 27,515.68.
On BSE, so far 14,000 shares were traded in the counter, compared with average daily volume of 5.55 lakh shares in the past one quarter. The stock hit a high of Rs 791 and a low of Rs 783.60 so far during the day. The stock hit a 52-week high of Rs 965.15 on 20 August 2015. The stock hit a 52-week low of Rs 706.40 on 24 November 2015. The stock had outperformed the market over the past 30 days till 8 July 2016, rising 4.84% compared with 1.36% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, 4.10% as against Sensex's 9.94% rise.
The large-cap company has an equity capital of Rs 240.68 crore. Face value per share is Re 1.
Sun Pharmaceutical Industries announced the roll-out of Gemcitabine InfuSMART in Europe. InfuSMART is a technology in which oncology products are developed in a Ready-To-Admimster (RTA) bag. Until now, compounding of oncology products was done at compounding centres or compounded in hospital pharmacies, an extra step before the medicine can be administered to patients. With the roll-out of Gemcitabine InfuSMART, Sun Pharma becomes world's first pharmaceutical company to manufacture and launch a licensed RTA oncology product. This innovatively differentiated product will have a shelf life of two years. Over the next few months, Sun Pharma will launch Gemcitabine InfuSMART across Netherlands, UK, Spain, Germany, Italy & France.
Sun Pharma received regulatory approval to produce Gemcitabine InfuSMART in eight key stock keeping units (SKUs). The InfuSMART concept involves dose banding practice whereby, through agreement between prescribers and pharmacists, standardized doses of intravenous cytotoxic drugs are used for ranges (or "bands") of doses calculated for individual patients. More InfuSMART oncology products are currently in Sun Pharma's pipeline to be rolled out in the future.
The launch of Gemcitabine InfuSMART offers Sun Pharma a definite first-mover advantage in Europe for cancer treatment. The Gemcitabine InfuSMART RTA infusion bag is developed at Sun Pharma's R&D centre in India, the company said.
Sun Pharmaceutical Industries' (Sun Pharma) consolidated net profit rose 92.7% to Rs 1713.69 crore on 21.5% growth in net sales to Rs 7413.87 crore in Q4 March 2016 over Q4 March 2015.
Sun Pharmaceutical Industries is a specialty generic pharmaceutical company and India's top pharmaceutical company.
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