Sun Pharma to buy U.S. drug firm Concert for $576 mn
The upfront payment of $8 per share of common stock in cash represents a premium of around 33% to Concert's 30-day volume weighted average price as of January 18, 2023.
The upfront payment of $8 per share of common stock in cash represents a premium of around 33% to Concert's 30-day volume weighted average price as of January 18, 2023.
The pharma company received a warning letter from the U.S. FDA for violations of manufacturing standards at the Halol facility in Gujarat.
Sun Pharma MD Dilip Shanghvi says in Q2, Sun Pharma recorded double-digit topline growth and strong margins, driven by market share gain in India, and sustained ramp-up of global specialty biz.
A majority of pharma stocks reported double digit negative returns, while the overall market (BSE Sensex) delivered a 9% plus return.
The revenue growth of about 16 leading Indian pharmaceutical companies is estimated to moderate to 6-7% in FY23, says ICRA.
Sun Pharma will sell Molnupiravir under the brand name Molxvir in India, Torrent Pharma will sell it as Molnutor, while Cipla will market it as Cipmolnu.
The company, set up and funded by Sun Pharma founder and MD Dilip Shanghvi’s family office, is focusing on AI-led pharma research and development, even offering tech tools to the industry for R&D.
Home-grown smaller players are giving biggies a run for their money in the US generics market.
Upper-middle-income households becoming the biggest demographic in 2030 will drive healthcare services.
The Nifty pharma index moved up sharply today, in what was a tepid trading day. The gains came as a surprise as top Indian companies faced new charges of price fixing in the US generic market.