The headline equity indices continued to trade with major losses in early afternoon trade. The Nifty slipped below the 23,900 level. Media shares declined after advancing for the past five consecutive trading sessions. At 12:30 IST, the barometer index, the S Meanwhile, India's forex reserves declined by $3.463 billion to $684.805 billion in the week ended October 25, according to the latest data from the RBI. For the week ended October 25, foreign currency assets, a major component of the reserves, decreased by $4.484 billion to $593.751 billion. Gold reserves increased by $1.082 billion to $68.527 billion during the week, the RBI said. RBI has released monthly data on India's International Trade in Services for the Month of September 2024 on Thursday. The value of exports and imports of services during September 2024 stood at $ 32,579 million, up 14.6% on year and $16,507 million, up 13.2%, respectively. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 7.21% to 17.05. The Nifty 31 October 2024 futures were trading at 23,985, at a premium of 118.65 points as compared with the spot at 23,866.35. The Nifty option chain for the 28 November 2024 expiry showed maximum Call OI of 26.7 lakh contracts at the 25,000 strike price. Maximum Put OI of 38 lakh contracts were seen at 24,000 strike price. Buzzing Index: The Nifty Media index fell 2.64% to 1,973.70. The index advanced 4.18% for the past five consecutive trading sessions. VR Inox (down 5.08%), Saregama India (down 3.94%), Hathway Cable & Datacom (down 3.24%), Dish TV India (down 3.13%), Sun TV Network (down 2.32%), Den Networks (down 2.2%), Zee Entertainment Enterprises (down 2.18%), Nazara Technologies (down 1.14%), Network 18 Media & Investments (down 1%) slipped. Stocks in Spotlight: Sun Pharmaceuticals Industries slipped 3.71% after the US District Court of New Jersey has decided to grant a preliminary injunction delaying the launch of Leqselvi (Baldness treatment) in the US. Mahindra & Mahindra added 1.17% after the auto major's overall auto sales grew by 19.79% to 96,648 vehicles sold in October 2024 as against 80,679 vehicles sold in October 2023. Powered by Capital Market - Live

Aa result of the court's decision, Sun Pharma has been temporarily barred from launching Leqselvi until a subsequent favorable court decision or until the expiry of patent in lawsuit, whichever is earlier, it added. Earlier on 1 August 2024, the pharma major had informed that it filed a motion seeking a preliminary injunction in a US court to prevent the launch of LEQSELVI. Sun Pharmaceuticals Industries is a leading global pharmaceutical company with specialty and generic presence and India's top pharma company. The company's consolidated net profit jumped 27.97% to Rs 3,040.16 crore on 9.01% rise in revenue from operations to Rs 13,291.39 crore in Q2 FY25 over Q2 FY24.Powered by Capital Market - Live

Net profit of Sun Pharmaceuticals Industries rose 27.98% to Rs 3040.16 crore in the quarter ended September 2024 as against Rs 2375.51 crore during the previous quarter ended September 2023. Sales rose 10.51% to Rs 13264.22 crore in the quarter ended September 2024 as against Rs 12003.11 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales13264.2212003.11 11 OPM %29.7026.49 - PBDT4223.793423.70 23 PBT3597.882790.88 29 NP3040.162375.51 28 Powered by Capital Market - Live

Profit before tax was at Rs 3,597.88 crore in Q2 FY25, registering a growth of 28.91% on YoY basis. During the quarter, EBITDA stood at Rs 3,939 crore (including other operating revenues), up 23.9%, with resulting EBITDA margin of 29.6% Sales of Formulation in India for Q2 FY25 were at Rs 4,265.2 crore, up 11% YoY and accounting for approximately 32% of total consolidated sales. US Formulation sales were $517 million in Q2 FY25, up 20.3% YoY and accounting for approximately 33% of total consolidated sales. Formulation sales in Emerging markets were $293 million for Q2 FY25, growing by 3.2% YoY and accounted for approximately 18% of total consolidated sales. Formulation sales in rest of world (ROW) markets were $190 million in Q1 FY25, down 2.9% and accounted for 12.6% of total consolidated sales. In Q2 FY25, formulation sales in the Rest of World (ROW) markets, excluding India, the US, and Emerging Markets, reached $199 million. This reflects a 3.5% decline compared to Q2 of the previous year and accounting for approximately 13% of total consolidated sales. During the quarter, external sales of API stood at Rs 533.8 crore, up 7.4% YoY. The company said that it continue to focus on increasing API supply for captive consumption for key products. Consolidated R&D investment was at Rs 792.9 crore for Q2 FY25 or 6% of sales as compared to Rs 773.4 crore for Q2 FY24. On half year basis the company's consolidated net profit jumped 33.59% to Rs 5,875.78 crore in H1 FY25 as against Rs 4,398.05 crore posted in H1 FY24. The company's revenue from operation increased 7.50% YoY to Rs 25,944.14 crore in H1 FY25. The company stated that its R&D efforts encompass both specialty and generic businesses, with ongoing investments aimed at building a pipeline for various markets, including the US, Emerging Markets, Rest of World (RoW) Markets, and India. It reported having seven molecules in clinical trials within their specialty R&D pipeline. The company highlighted a comprehensive product offering in the US market, which includes approved Abbreviated New Drug Applications (ANDAs) for 538 products, while filings for 105 ANDAs are pending US FDA approvals, including 28 with tentative approvals. Additionally, the firm mentioned 51 approved New Drug Applications (NDAs), with 13 NDAs awaiting US FDA approval. For the quarter, it filed three ANDAs and received approval for one ANDA, as well as one NDA approval. Dilip Shanghvi, chairman and MD, said, 'Sun has recently strengthened its specialty pipeline through an agreement with Philogen for commercializing late stage candidate Fibromun, upon approval. With Fibromun, our product basket for dermatologists has expanded further. We shall continue to leverage our strong cash position to strengthen our pipeline with products that are close to market.' Sun Pharmaceuticals Industries is a leading global pharmaceutical company with specialty and generic presence and India's top pharma company. Powered by Capital Market - Live

Sun Pharmaceuticals Industries Ltd is up for a third straight session today. The stock is quoting at Rs 1890, up 1.59% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.01% on the day, quoting at 24425.65. The Sensex is at 80274.05, up 1.1%. Sun Pharmaceuticals Industries Ltd has slipped around 1.9% in last one month. Meanwhile, Nifty Pharma index of which Sun Pharmaceuticals Industries Ltd is a constituent, has slipped around 2.07% in last one month and is currently quoting at 22574.55, up 1% on the day. The volume in the stock stood at 8.06 lakh shares today, compared to the daily average of 16.69 lakh shares in last one month. The benchmark October futures contract for the stock is quoting at Rs 1892.75, up 1.65% on the day. Sun Pharmaceuticals Industries Ltd is up 69.48% in last one year as compared to a 27.61% jump in NIFTY and a 54.31% jump in the Nifty Pharma index.The PE of the stock is 160.37 based on TTM earnings ending June 24.Powered by Capital Market - Live

Sun Pharmaceuticals Industries will hold a meeting of the Board of Directors of the Company on 28 October 2024Powered by Capital Market - Live

Philogen is an Italian-Swiss company active in the biotechnology sector, specialized in the research and development of pharmaceutical products for the treatment of highly lethal diseases. Fibromun, an innovative anti-cancer immunotherapy, is being investigated in registration trials by Philogen for the treatment of soft tissue sarcoma and glioblastoma. Under the terms of the agreement, Sun Pharma will have the exclusive worldwide rights to commercialise Fibromun. Philogen will complete the ongoing pivotal clinical trials for the product, pursue marketing authorization with regulatory authorities, and manufacture commercial supplies. Sun Pharma will be responsible for commercialization activities. The two partner companies will share post-commercialization economics in about 45(Philogen)-to-55(Sun Pharma) ratio. Dilip Shanghvi, chairman and managing director of Sun Pharma, said: 'Fibromun's progress through development has been quite encouraging and it has potential to be an important option for treatment of soft-tissue sarcomas and other cancers with significant unmet medical needs. This partnership expands our clinical pipeline into oncology in alignment with our current portfolio in skin cancers. We keenly look forward to providing this treatment option globally in due course of time.' In May last year, Sun Pharma and Philogen entered into an exclusive distribution, license, and supply agreement for commercializing the specialty product Nidlegy in Europe, Australia and New Zealand. The first marketing authorization application for Nidlegy has been submitted to European Medicines Agency (EMA) for the treatment of locally advanced, fully resectable melanoma in the neoadjuvant setting. Sun Pharmaceuticals Industries is a leading global pharmaceutical company with specialty and generic presence and India's top pharma company. The company's consolidated net profit jumped 40.20% to Rs 2,835.6 crore on 5.96% rise in revenue from operations to Rs 12,652.75 crore in Q1 FY25 over Q1 FY24. The scrip shed 0.78% to currently trade at Rs 1911.30 on the BSE. Powered by Capital Market - Live

Sun Pharmaceutical Industries and Philogen S.p.A (Philogen) today announced that they have entered into a global licensing agreement for commercializing Philogen's specialty product, Fibromun (L19TNF). Fibromun, an innovative anti-cancer immunotherapy, is being investigated in registration trials by Philogen for the treatment of soft tissue sarcoma and glioblastoma. Under the terms of the agreement, Sun Pharma will have the exclusive worldwide rights to commercialise Fibromun. Philogen will complete the ongoing pivotal clinical trials for the product, pursue Marketing Authorization with regulatory authorities, and manufacture commercial supplies. Sun Pharma will be responsible for commercialization activities. The two partner companies will share post-commercialization economics in about 45(Philogen):55(Sun Pharma) ratio. Other financial terms were not disclosed. Powered by Capital Market - Live

Sun Pharmaceutical Industries and Israel-based Moebius Medical announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation (FTD) to MM-II (Large Liposomes of DPPC and DMPC) for the treatment of osteoarthritis knee pain. Planning for confirmatory Phase 3 clinical trials for MMII is underway. The FDA's Fast Track program is designed to facilitate the development and expedite the review of therapies intended to treat serious conditions and address unmet medical needs in order to potentially bring important new medicines to patients earlier. Among other benefits, companies whose investigational products are granted FTD are eligible for more frequent interactions with the FDA during clinical development and potentially accelerated approval and/or priority review. 'As we enter Phase 3 development, we are very encouraged by the FDA's decision to grant Fast Track designation to MM-II and recognize its potential to fill an unmet medical need for patients suffering from Osteoarthritis,' said Marek Honczarenko, MD, PHD, Senior Vice President, Head Global Development at Sun Pharma.Powered by Capital Market - Live

MM-II is a novel non-opioid product that uses a proprietary suspension of large, empty, multilamellar liposomes which are intended to reduce friction and wear on the joint and thus relieve joint pain. The company and Moebius Medical jointly developing this product, have announced plans to initiate a Phase 3 clinical program and to seek a CE Mark for the product in the European Union. The FDA's Fast Track program is designed to facilitate the development and expedite the review of therapies intended to treat serious conditions and address unmet medical needs in order to potentially bring important new medicines to patients earlier. Among other benefits, companies whose investigational products are granted FTD are eligible for more frequent interactions with the FDA during clinical development and potentially accelerated approval and/or priority review. Marek Honczarenko, MD, PHD, senior vice president, Head Global Development, Sun Pharma, said, 'As we enter Phase 3 development, we are very encouraged by the FDA's decision to grant Fast Track designation to MM-II and recognize its potential to fill an unmet medical need for patients suffering from Osteoarthritis.' Moshe Weinstein, CEO of Moebius Medical, added, 'This Fast Track Designation, which will enable FDA to review MM-II in an expedited manner, is an important milestone in the development of MM-II, and follows our recently released Phase 2b data, which showed MMII's potential to provide effective and durable treatment for patients with knee pain of Osteoarthritis.' Moebius Medical is a clinical stage biotechnology company that is developing novel pain relief treatments for osteoarthritis Sun Pharmaceuticals Industries is a leading global pharmaceutical company with specialty and generic presence and India's top pharma company. The company's consolidated net profit jumped 40.20% to Rs 2,835.6 crore on 5.96% rise in revenue from operations to Rs 12,652.75 crore in Q1 FY25 over Q1 FY24. The script rose 0.29% to Rs 1,825.75 on the BSE.Powered by Capital Market - Live