Sun Pharmaceutical’s share price traded at ₹1,738.35 at 10:50 AM on the NSE, showing a marginal decline of ₹3.85 or 0.22% from its previous close of ₹1,742.20. The stock opened higher at ₹1,781.45 and reached a high of ₹1,785.90 during the session. However, it experienced a pullback, dipping to a low of ₹1,734.75.
Sun Pharmaceutical Industries posted strong results for Q3 FY25. Despite this, there are concerns about the delayed launch of its hair loss drug, Leqselvi, and a reduction in research and development (R&D) spending.
The company has revised its FY25 R&D guidance to below 7% of sales, citing delays in clinical trials. While this adjustment is expected to improve short-term earnings, it may affect the company’s long-term product pipeline.
A significant concern for Sun Pharma is the postponed launch of Leqselvi, a specialty treatment for hair loss. The company has indicated that oral arguments in the ongoing patent case are scheduled for April 2025.
Should the ruling be unfavourable, the launch could be pushed back to December 2026, when the patent expires. This delay is becoming a growing issue, despite the specialty business’s overall solid performance.
Sun Pharmaceutical Industries entered into a definitive agreement to acquire 100% shares of Antibe Therapeutics Inc., a clinical-stage biotechnology firm based in Ontario, Canada.
Antibe, which primarily focuses on developing drugs to alleviate pain and inflammation, is currently under court-managed liquidation. The acquisition will take place under a reverse Vesting Order, with certain assets and liabilities being transferred to a residual company before closing.
The deal, which requires approval from the Ontario Superior Court of Justice, is expected to be completed by March 7, 2025. As of now, the financial details of the transaction, including the acquisition cost, are undisclosed and will be revealed once finalised.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Feb 3, 2025, 11:00 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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