Around six weeks ago, Sun Pharmaceutical Industries, India's largest drugmaker, suffered a setback, which led to a selloff in the share. The US District Court of New Jersey granted Incyte's request for a preliminary injunction against Sun Pharma's launch of Leqselvi, a drug that treats alopecia.
Sun announced it would immediately appeal against the court's decision, but the injunction prevents Sun from launching Leqselvi, until either the court rules in its favour or the expiry of Incyte's 335 patent in December 2026.
However, analysts are now reviewing the decision and some say that if the base case is assumed to be a launch in 2026, there could still be an NPV (net present value) of ₹59 per share from the launch. It is assumed that Sun will enter a royalty-based settlement with Incyte in due course.
Sun Pharma beat consensus in Q2FY25, driven by strong specialty portfolio demand, g-Revlimid uptake, and reduced R&D expenses. It was adversely impacted by moderating Rest of World (ROW) sales (excluding the US, India and other Emerging Markets) and increased operating costs, partly due to Leqselvi and price cuts in Japan.
Denne historien er fra December 21, 2024-utgaven av Business Standard.
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Denne historien er fra December 21, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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