Sun Pharmaceutical Industries faces a delay in the US launch of its new drug, LEQSELVITM (deuruxolitinib), intended for treating severe alopecia areata, after a recent ruling by the US District Court of New Jersey. The court issued a preliminary injunction that prevents the company from introducing the medication until a favorable court ruling or the expiration of the relevant patent.
The injunction follows Sun Pharma's challenge filed on August 1. The court upheld the delay last Friday, effectively halting the drug's release in the US market. Sun Pharma has expressed its disagreement with the ruling and intends to appeal the decision.
LEQSELVITM is aimed at addressing alopecia areata, a disease with limited effective treatment options. The delay in its launch represents a setback for patients awaiting new therapies.
Despite this legal challenge, Sun Pharma reported a consolidated net profit of ₹3,040 crore for the quarter ending September 30, 2024, marking a 27.94% increase year-on-year. Revenue for the quarter stood at ₹13,291 crore. EBITDA stood at ₹3,939 crore, with an EBITDA margin of 29.6%.
US formulation sales rose 20% year-on-year to $517 million, accounting for 33% of total sales for the reporting quarter.
