Views on Sun Pharma and AstraZeneca enter into distribution agreement for ticagrelor in India: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking)

Sun Pharma and AstraZeneca enter into distribution agreement for ticagrelor in India:

"Sun Pharmaceutical Industries and AstraZeneca Pharma India Ltd announced that they have entered into a distribution services agreement in India for AstraZeneca's brand "Axcer®", a new brand of ticagrelor, a drug used for the treatment of acute coronary syndrome (ACS). AstraZeneca already has a brand under the trademark "Brilinta®", for ticagrelor molecule, launched and marketed by AstraZeneca in India since 2012. Sun Pharma will be promoting and distributing "Axcer®" brand in India. This collaboration enables AstraZeneca to expand usage of this molecule through wider reach to physicians and thereby benefiting a greater number of ACS patients, while strengthening Sun Pharma's cardiology portfolio with the addition of a new patented therapy. After the fall, we recommend a BUY with a price target of INR 1064."

Shares of SUN PHARMACEUTICAL INDUSTRIES LTD. was last trading in BSE at Rs.848.55 as compared to the previous close of Rs. 832.15. The total number of shares traded during the day was 492575 in over 15494 trades.

The stock hit an intraday high of Rs. 861 and intraday low of 827.5. The net turnover during the day was Rs. 420208566.

Source : Equity Bulls

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