Sun Pharmaceutical Industries lost 1.75% to Rs 1,148 at 10:29 IST on BSE, with the stock declining on profit booking after recent upmove.
Meanwhile, the BSE Sensex was down 2.09 points, or 0.01%, to 28,502.37
On BSE, so far 1.84 lakh shares were traded in the counter, compared with an average volume of 2.27 lakh shares in the past one quarter.
The stock scaled a record high of Rs 1,200.70 in intraday trade today, 7 April 2015. The stock hit a low of Rs 1,145.05 so far during the day. The stock hit a 52-week low of Rs 571 on 4 April 2014.
The stock had outperformed the market over the past one month till 6 April 2015, rising 12.64% compared with 3.21% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 44.65% as against Sensex's 5.62% rise.
The large-cap pharma firm has an equity capital of Rs 207.12 crore. Face value per share is Re 1.
Shares of Sun Pharmaceutical Industries were on a roll recently, gaining 15.61% in four trading days to Rs 1,168.50 yesterday, 6 April 2015 from a recent low of Rs 1,010.65 on 27 March 2015. The stock jumped 8.34% to settle at Rs 1168.50 yesterday, 6 April 2015 after the company settled its litigation with The Medicines Company USA relating to US patents covering Angiomax. The announcement was made after market hours on Wednesday, 1 April 2015. Stock market had remained closed on Thursday, 2 April 2015, on account of Mahavir Jayanti. The stock market remained closed again on Friday, 3 April 2015, on account of Good Friday.
Sun Pharmaceutical Industries said that the company and certain of the company's subsidiaries have executed a settlement agreement with 'The Medicines Company USA' settling the lawsuit filed against the company and the company's subsidiaries regarding submission of abbreviated new drug application (ANDA) by one of the company's subsidiaries, for a generic version of Angiomax, Bivalirudin injection. This product is a direct thrombin inhibitor indicated for use as an anticoagulant. Under the terms of the settlement agreement, the company's subsidiary is entitled to launch its version of Angiomax in the United States on 30 June 2019, or earlier in certain limited circumstances. The agreement is subject to customary regulatory review, Sun Pharmaceutical Industries said.
Meanwhile, trading in shares of Ranbaxy Laboratories was suspended from yesterday, 6 April 2015 as the swap ratio of Ranbaxy Laboratories and Sun Pharmaceutical Industries became effective after Sun Pharmaceutical Industries completed the merger of Ranbaxy Laboratories with itself.
Sun Pharmaceutical Industries had set 7 April 2015 as the record date in order to determine the names of the shareholders of Ranbaxy Laboratories who would be entitled to receive 8 shares of Re 1 each of the company for every 10 equity shares of Rs 5 each of Ranbaxy Laboratories. In April 2014, Sun Pharmaceutical Industries had acquired Ranbaxy Laboratories in $4 billion landmark transaction.
Sun Pharmaceutical Industries' consolidated net profit fell 6.9% to Rs 1425.07 crore on 1.9% decline in total income to Rs 4361.85 crore in Q3 December 2014 over Q3 December 2013.
Sun Pharmaceutical Industries is an international specialty pharmaceutical company.
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