"We are pleased with the ruling issued by the US District Court, as it validates SPARC's long held position on this matter," SPARC CEO Anil Raghavan said in the statement.
SPARC: The stock jumped 20 per cent to touch its upper price band of Rs 161.10, although it remains down 19.73 per cent on a year-to-date (YTD) basis.
On Wednesday, Sun Pharma stock declined 1.37 per cent to settle at Rs 1,631.65. The company commands a market capitalisation of Rs 3.91 lakh crore.
The brokerage has maintained a ‘Positive’ sector view, forecasting EBITDA margins to remain “broadly stable” as companies focus on improving their product mix.
Trump tariff: US exports as percentage of Biocon's sales stands at 46 per cent. Cipla (29 per cent), Dr Reddy's Labs (46 p cent), Lupin (36 per cent) and Sun Pharma (33 per cent), are other pharma exporters to the US.
On Wednesday, Sun Pharma stock fell as much as 0.95 per cent to hit the day’s low of Rs 1,580.05 apiece on the BSE, over its previous close of Rs 1,595.10.
Choice Broking maintained an ‘ADD’ rating and a target price of Rs 1,825 on Sun Pharma. At the prevailing price, the target suggests 11 per cent potential upside.
Sun Pharma's shares experienced a 0.47 per cent decline, trading at Rs 1,659.80, alongside the sharper fall in SPARC shares to Rs 156.50 on the BSE.
Sun Pharma declined 0.93 per cent to Rs 1,689.35. About10 per cent of the Sun Pharma's US specialty revenues is formulated in the US, as per some estimates.
Aurobindo Pharma and Gland Pharma have fallen 9 per cent each in the past one week and 22-23 per cent in 2025 so far. Glenmark Pharma is down 9 per cent for the week month period and 14 per cent year-to-date.
Granules India, Lupin, Gland Pharma and Cipla fell 5-6 per cent. Sun Pharmaceutical Industries slipped 5 per cent while Dr Reddy's Labs was down 4 per cent.
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