SUN PHARMACEUTICAL INDUSTRIES LIMITED

Sun Pharma temporarily barred from launching Leqselvi until favorable court decision or patent expiry. Earlier, Sun Pharma sought preliminary injunction in US court to prevent launch. The company reported a 27.97% net profit increase in Q2 FY25.

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Sun Pharma shares fell 4.9% on BSE due to a US court injunction delaying Leqselvi launch. The company plans to appeal. Despite this, Sun Pharma reported a 28% rise in Q2 FY25 net profit to ₹3,040 crore, with revenue up 9% to ₹13,291.39 crore. The company also expanded its dermatology pipeline with Fibromun.

Sun Pharma's shares dropped 3.4% after the U.S. District Court of New Jersey barred the launch of its alopecia drug, Leqselvi, until December 2026. The company plans to appeal, and while Nomura analysts see near-term growth risks, they do not expect a significant long-term impact. Sun Pharma's YTD gain of 42% exceeds peers Cipla and Dr Reddy's.

Sensex tanks 650 points, Nifty below 24,100; Sun Pharma & Bajaj Auto top losers. US stocks end higher, Amazon's strong earnings countering job growth drop. Zen Technologies Q2 profit surges 309%, revenue up 263%. Sun Pharma's Leqselvi launch blocked by US court. Premier Energies secures Rs 5.6 bn orders from IPPs.

Sun Pharma's Leqselvi faces a US court injunction delaying its launch until 2026 or a favorable ruling, potentially impacting $200 million in projected sales.

Brokerage firms Kotak Securities upgraded M&M, Jefferies remains bullish on Nykaa, and JPMorgan and UBS offer insights on Sun Pharma's legal hurdles.

Sun Pharma's shares fell 3.62% after a US court granted a preliminary injunction blocking the launch of Leqselvi. The company plans to appeal, with JPMorgan suggesting a potential settlement with Incyte. Leqselvi's NPV is $546 million, or Rs 19 per share, assuming a 2026 launch.

Stocks in focus include IRFC, IRCTC, Ujjivan SFB, Bharti Airtel, and Sun Pharma.

U.S. District Court of New Jersey granted a preliminary injunction delaying Sun Pharma's launch of LEQSELVI. Sun Pharma intends to appeal the decision. LEQSELVI was approved by the FDA on July 25, 2024, for severe alopecia areata treatment. Incyte Corporation and Incyte Holdings Corporation filed a patent infringement action to prevent the launch.