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Research
Alembic Pharma, Lupin & Sun Pharma get approval for Desvenlafaxine Succinate: Angel Broking
Posted On : 2015-07-02 19:58:17( TIMEZONE : IST )
Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking)
Alembic Pharma, Lupin & Sun Pharma get approval for Desvenlafaxine Succinate:
"The companies have got USFDA nod for antidepressant drug Desvenlafaxine Succinate. Desvenlafaxine is a prescription drug that is indicated for the treatment of major depressive disorder. Desvenlafaxine is in a class of medications called selective serotonin and norepinephrine reuptake inhibitors (SNRIs). Pristiq® generated sales of $742 million, based on May 2015 IMS Health Sales Data. The product will be available in 50mg and 100mg tablets. Alembic filed their Paragraph IV ANDA on the first-to-file date and expects to share 180-day exclusivity with other ANDA first filers. Given the no of filers, we believe the drug will not contribute significantly (not more than US $ 20mn) to these companies during the exclusivity period. We retain our NEUTRAL rating on Alembic Pharma, Lupin & a BUY for Sun Pharmaceuticals with a price target of INR 1014."
Shares of ALEMBIC PHARMACEUTICALS LTD. was last trading in BSE at Rs.677 as compared to the previous close of Rs. 661.3. The total number of shares traded during the day was 34030 in over 1440 trades.
The stock hit an intraday high of Rs. 679 and intraday low of 666. The net turnover during the day was Rs. 22912215.
Shares of LUPIN LTD. was last trading in BSE at Rs.1869.7 as compared to the previous close of Rs. 1877.7. The total number of shares traded during the day was 58616 in over 3240 trades.
The stock hit an intraday high of Rs. 1899 and intraday low of 1862.1. The net turnover during the day was Rs. 110058261.
Shares of SUN PHARMACEUTICAL INDUSTRIES LTD. was last trading in BSE at Rs.870.5 as compared to the previous close of Rs. 873. The total number of shares traded during the day was 171359 in over 5922 trades.
The stock hit an intraday high of Rs. 884.3 and intraday low of 867. The net turnover during the day was Rs. 150205978.
