Latest news with #RichardAscroft
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Business Standard
2 days ago
- Business
- Business Standard
Sun Pharma shares rise 2% on US launch of hair loss drug after settlement
Shares of Sun Pharmaceutical Industries rose nearly 2 per cent on Tuesday after the company launched Leqselvi, a new treatment for severe alopecia areata, in the US, following the settlement of a patent dispute. The Pharmaceutical firm's stock rose as much as 1.68 per cent during the day to ₹1,710.8 per share. The stock pared gains to trade 1.26 per cent higher at ₹1,703.8 apiece, compared to a 0.53 per cent advance in Nifty 50 as of 11:24 AM. Shares of the company gained for the third-straight day and currently trade at 2.4 times the average 30-day trading volume, according to Bloomberg. The counter has risen 9.5 per cent this year, compared to a 6.5 per cent advance in the benchmark Nifty 50. Sun Pharma has a total market capitalisation of ₹4.09 trillion. Sun Pharma launches hair loss drug The pharma major launched Leqselvi in the US, a new medicine for severe alopecia areata -- a condition in which the immune system attacks hair follicles, leading to hair loss on the scalp as well as other parts of the body. The delay in Sun Pharma's launch of Leqselvi in the US was caused by a patent infringement case, which was later settled in a US court with Incyte Corp. The drug underwent two clinical trials, THRIVE-AA1 and THRIVE-AA2, involving 1,223 adults between 18 and 65 years of age. The trials were conducted in the US, Canada, and Europe. Sun Pharmaceutical is also offering a 'Leqselvi Support Program' to help patients access the medicine. Hair regrowth was measured over a period of 24 weeks using a scoring system known as the Severity of Alopecia Tool (SALT), according to the company's statement. 'Leqselvi is an important step forward for people living with severe alopecia areata,' said Richard Ascroft, CEO of Sun Pharma North America. Elera Capital estimates that Leqselvi could become a $200-300 million opportunity over the next 3-5 years, potentially emerging as Sun Pharma's second-largest product after Ilumya. The brokerage retains an Accumulate rating on the pharma company, with a target price of ₹1,871 per share. It flagged adverse US trade tariffs as a key near-term risk. Sun Pharma Q4 results Sun Pharma reported a 19 per cent year-on-year decline in consolidated net profit for Q4FY25, coming in at ₹2,149.8 crore. However, revenue from operations rose 8 per cent to ₹12,958.8 crore for the quarter. Excluding exceptional items, adjusted net profit stood at ₹2,889.1 crore, marking a 4.8 per cent increase. For the full financial year FY25, net profit grew 14 per cent Y-o-Y to ₹10,929 crore, while revenue increased 8 per cent to ₹52,578 crore.
Economic Times
2 days ago
- Business
- Economic Times
Sun Pharma settles litigation with Incyte Corp over hair loss drug Leqselvi
Synopsis Sun Pharmaceutical Industries has reached a settlement agreement with Incyte Corporation concerning Leqselvi, a drug for severe hair loss, leading to the dismissal of pending litigation in the US. Incyte has granted Sun a non-exclusive license for oral deuruxolitinib for specific non-oncology indications, including alopecia areata, in the US. Reuters Sun pharma logo( File photo) Sun Pharmaceutical Industries on Monday said it has inked a settlement pact with US-based Incyte Corporation regarding Leqselvi, a drug used for severe hair the terms of agreement, the parties will seek dismissal of the pending Leqselvi litigation in the US District Court for the District of New Jersey, and Sun and Incyte will mutually release each other of all claims that were raised or could have been raised in that litigation, the Mumbai-based drug major said in a statement. As a part of the agreement, Incyte has granted to Sun a limited, non-exclusive license to US Patent Nos. 9,662,335 and certain other related patents with respect to oral deuruxolitinib for certain agreed-upon non-hematology-oncology indications, including alopecia areata, in the US, it added. Sun will pay Incyte an upfront amount, plus ongoing royalty payments until the expiry of the patents, in exchange for the settlement and license, it stated. Other specific terms of the settlement and license agreement are confidential, it added. In a separate statement, the drug firm announced the launch of Leqselvi (8 mg) tablets in the US medication (deuruxolitinib) is indicated for the treatment of adults with severe alopecia areata."The launch of Leqselvi in the US brings an effective, new treatment option for severe alopecia areata to eligible patients and the healthcare providers who treat them," Richard Ascroft, CEO of Sun Pharma North America, said."As a company committed to launching new therapeutic options which address the unmet needs of patients, adding Leqselvi to our dermatology portfolio represents a key milestone for the business and an important advancement for the alopecia areata community," he added. Shares of Sun Pharma ended 0.54 per cent higher at Rs 1,681.45 apiece on the BSE.
The Hindu
2 days ago
- Business
- The Hindu
Sun Pharma reaches settlement with Incyte Corporation, launches Leqselvi in U.S.
Sun Pharmaceutical Industries Ltd has announced that it has entered into a settlement and license agreement with Incyte Corporation regarding litigation related to LEQSELVI (deuruxolitinib). 'Under the terms of agreement, the parties will seek dismissal of the pending LEQSELVI litigation in the United States District Court for the District of New Jersey and Sun and Incyte will mutually release each other of all claims that were raised or could have been raised in that litigation,' Sun Pharma said in a statement. As a part of agreement, Incyte has granted to Sun a limited, non-exclusive license to U.S. Patent and certainother related patents with respect to oral deuruxolitinib for certain agreed-upon non-hematology-oncology indications including alopecia areata, in the U.S. Sun will pay to Incyte an upfront amount, plus ongoing royalty payments until the expiry of the patents, in exchange for the settlement and license. 'Other specific terms of the settlement and license agreement are Confidential,' Sun Pharma said. After the settlement was reached, Sun Pharma has announced the launch of LEQSELVI 8 mg tablet in the United States for the treatment of severe alopecia areata. 'The launch of LEQSELVI in the U.S. brings an effective, new treatment option for severe alopecia areata to eligible patients and the healthcare providers who treat them,' said Richard Ascroft, CEO, Sun Pharma North America.
Mint
2 days ago
- Business
- Mint
Sun Pharma launches alopecia drug Leqselvi in US after settling patent dispute
Sun Pharma on Monday announced it has settled a patent row with American biopharma company Incyte Corporation over its hair-loss drug, paving the way for its launch in the US. The Mumbai-based drugmaker, embroiled in the lawsuit since last year, launched the specialty drug in the world's largest pharmaceutical market on Monday. Leqselvi (oral deuruxolitinib) is indicated for treatment of adults with severe alopecia areata. Under the terms of settlement and licensing agreement, the two companies will seek a dismissal of the pending litigation in the United States District Court for the District of New Jersey, the company said in a release. Sun and Incyte will mutually release each other of all claims that were raised or could have been raised in that litigation. Incyte has also granted a limited, non-exclusive licence to Sun to US patents no. 9,662,335 and other related patents. This licence covers oral deuruxolitinib for certain agreed-upon non-hematology-oncology indications including alopecia areata, the company said. In return, Sun will pay Incyte an upfront amount, as well as ongoing royalty payments until expiry of the patents. The company did not reveal other specific terms of the settlement. In April 2025, Sun Pharma received a favourable ruling from the US Court of Appeals for the Federal Circuit, which vacated a preliminary injunction on Leqselvi's launch, lifting restrictions on the launch. Sun received approval from the US Food and Drug Administration for Leqselvi in July 2024. Soon after the regulator's approval, Incyte Corporation filed a patent infringement lawsuit against Sun Pharma, alleging that Leqselvi infringed upon its existing patents, delaying the launch. In November 2024, the US District Court of New Jersey granted a preliminary injunction, halting Leqselvi's launch in the US until the lawsuit was resolved. Sun Pharma on Monday announced the launch of Leqselvi in the US, in a separate release. The drug will be available for prescription in 8mg tablets in the country. 'As a company committed to launching new therapeutic options which address the unmet needs of patients, adding LEQSELVI to our dermatology portfolio represents a key milestone for the business and an important advancement for the alopecia areata community," said Richard Ascroft, CEO, Sun Pharma North America, in the release. Leqselvi demonstrated rapid results in clinical trials with one third of patients regaining almost all of their hair by week 24. Some patients (3%) achieved 80% or more scalp coverage as fast as 8 weeks. Leqselvi is expected to be a $200 million opportunity for Sun Pharma in 3-4 years after launch, according to brokerage Elara Capital. Sun Pharma's shares ended 0.58% higher at ₹ 1,681.70 apiece on NSE on Monday.
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Business Standard
2 days ago
- Business
- Business Standard
Sun Pharma launches Leqselvi in US after patent settlement with Incyte Corp
Sun Pharmaceuticals on Monday announced the launch of hair loss drug Leqselvi (deuruxolitinib) in the United States (US) market for the treatment of alopecia areata, a condition in which the immune system attacks hair follicles, leading to hair loss on the scalp as well as other parts of the body. The announcement came after the Mumbai-based pharma major inked a settlement pact with US-based Incyte Corporation regarding the hair loss drug. Incyte had earlier accused Sun Pharma of patent infringement. Under the terms of the agreement, the parties will seek dismissal of the pending Leqselvi litigation in the United States District Court for the District of New Jersey. 'Incyte has also granted Sun a limited and non-exclusive licence to US patent numbers 9,662,335 and certain other related patents with respect to oral deuruxolitinib for certain agreed-upon non-haematology-oncology indications including alopecia areata, in the US,' the company said in a regulatory filing on the exchanges. The Mumbai-based pharma major will also pay Incyte an undisclosed upfront amount, plus ongoing royalty payments until the expiry of the patents, in exchange for the settlement and licence. Deuruxolitinib is expected to go off-patent in the financial year 2025–26 (FY26). The launch adds Leqselvi to Sun Pharma's innovative therapies portfolio, which saw sales of $1,216 million in FY25, according to Sun Pharma's investor presentation for the year. According to a Reuters report, Shrikant Akolkar, analyst at Nuvama Institutional Equities, said the drug could generate up to $400 million in sales by FY30, with peak sales potential of $900 million, and boost growth in Sun Pharma's key US market. Commenting on the launch, Sun Pharma America CEO Richard Ascroft said the launch of Leqselvi in the US brings an effective, new treatment option for severe alopecia areata to eligible patients and the healthcare providers who treat them. 'As a company committed to launching new therapeutic options which address the unmet needs of patients, adding Leqselvi to our dermatology portfolio represents a key milestone for the business and an important advancement for the alopecia areata community,' he added. The announcement was made post market hours. On Monday, Sun Pharma's share rose marginally by 0.57 per cent, ending the day's trade at ₹1,682.05 apiece on the Bombay Stock Exchange (BSE).
