SPARC Rallies 4% On Licensing Xelpros To Sun Pharma

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    Shares in Sun Pharma Advanced Research Company (SPARC) rallied 4 per cent after reports that the company had licensed out Xelpros (Latanoprost BAK-free eye drops) to a subsidiary of Sun Pharma for the US market.

    SPARC Rallies 4% On Licensing Xelpros To Sun Pharma
    Sun Pharma Advanced Research Company: Quotes, News
    BSE 148.40BSE Quote23.6 (-15.90%)
    NSE 148.25NSE Quote23.45 (-15.82%)
    In addition to up-front payment of US$3 million, SPARC will receive certain other milestone payments, both totaling to US$16 million from Sun Pharma. It is also eligible for certain defined royalties and additional milestone payments linked to the actual sales performance of Xelpros.

    In December 2014, the US FDA had issued a Complete Response letter (CRL) to SPARC for its New Drug Application (NDA) for Latanoprost BAK-free eye drops. This CRL has since been replied to and a response from the US FDA is awaited.

    The stock was last trading at Rs 424, up Rs 8 or 4.4 per cent on the National Stock Exchange.

    Read more about: sun pharma sparc
    Story first published: Wednesday, June 10, 2015, 12:04 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more