Latest news with #SPIL
India.com
2 days ago
- Business
- India.com
Stock market news: Shares of this pharma company in focus after this status update from Ministry of Commerce and Industry
Stock market- File image- For Representational purpose Stock market news: Sudarshan Pharma Industries Limited (SPIL), an Indian pharmaceutical company, focuses on the manufacture, sourcing, and distribution of chemicals and pharmaceutical products. In a significant development, the company announced on Wednesday that it has been granted a certificate of recognition as a One Star Export House by the Directorate General of Foreign Trade under the Department of Commerce, Ministry of Commerce and Industry, Government of India. This recognition, which is valid for five years from May 8, 2023, to March 31, 2028, is expected to bring the small-cap stock in the specialty chemical sector into the spotlight. As of 12:16 IST on Thursday, June 6, the stock was trading at its 3% lower circuit limit at ₹30.38 per share, with a market capitalization of ₹731.12 crore. Furthermore, the company has announced that its Extraordinary General Meeting (EGM) will take place on Thursday, June 12, 2025. The remote e-voting period will begin on Monday, June 9, 2025, at 9:00 a.m. and end on Wednesday, June 11, 2025, at 5:00 p.m. The remote e-voting module will be disabled by NSDL after this period. Members whose names appear in the Register of Members or as Beneficial Owners on the record date (cut-off date), which is Thursday, June 5, 2025, may cast their votes electronically. Voting rights will be proportionate to each shareholder's share in the paid-up equity capital of the company as of the cut-off date, Thursday, June 5, 2025, as stated by Sudarshan Pharma in a stock exchange filing. For the bulk drug industry, the central government has allocated ₹100 billion. Of this amount, ₹30 billion will be used to promote the development of three bulk drug parks over the next five years, while ₹69.4 billion will support a production-linked incentive scheme designed to enhance the domestic production of critical key starting materials (KSMs), drug intermediates, and active pharmaceutical ingredients (APIs) over the next eight years. Since most of the 53 essential APIs and intermediates identified in this scheme are necessary for producing crucial medications and India is heavily reliant on imports from China, Sudarshan Pharma is establishing a manufacturing facility to produce some of these critical APIs that are currently imported from China.
Business Standard
2 days ago
- Business
- Business Standard
SPARC tanks after psoriasis, eczema drug flunks Phase 2 trials
Sun Pharma Advanced Research Company (SPARC) dropped 18.63% to Rs 159.15 after the company announced disappointing results from a key clinical trial. In a regulatory filing, SPARC said that its partner, Sun Pharmaceutical Industries (SPIL), reported top-line results from Phase 2 studies of Vibozilimod (SCD-044), a drug candidate aimed at treating moderate-to-severe psoriasis and atopic dermatitis. Both trials failed to meet their primary endpoints: a 75% improvement in the Psoriasis Area and Severity Index (PASI75) and Eczema Area and Severity Index (EASI75), respectively, by Week 16. Following the setback, SPARC and SPIL stated they would assess the appropriate next steps for the development of Vibozilimod. SPARC is a clinical stage bio-pharmaceutical company focused on continuously improving standards of care for patients globally, through innovation in therapeutics and delivery. On a consolidated basis, SPARC reported net loss of Rs 59.77 crore in Q4 March 2025 as against net loss of Rs 105.79 crore in Q4 March 2024. Net sales rose 64.19% year-on-year to Rs 27.19 crore in Q4 March 2025.
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Business Standard
3 days ago
- Business
- Business Standard
Sun Pharma Advanced Research hits 20% lower band; what's rattling Street?
Sun Pharma Advanced Research Company (SPARC) shares slumped 20 per cent in trade on Wednesday, June 4, 2025, hitting its lower circuit at ₹156.5 per share on BSE. The stock was under pressure after the company's partner Sun Pharmaceutical Industries informed that its phase 2 trial for evaluating SOLARES PsO and SOLARES AD studies failed to meet the primary endpoint. In the past one year, Sun Pharma Advanced Research Company shares have declined 3 per cent as compared to Sensex's rise of around 12 per cent. At 9:36 AM, Sun Pharma Advanced Research share price was down 15.16 per cent at ₹165.95 per share on the BSE. In comparison, the BSE Sensex was up 0.04 per cent at 80,766.66. The market capitalisation of the company stood at ₹5,385.44 crore. The 52-week high of the stock was at ₹257.7 per share and the 52-week low of the stock was at ₹109.2 per share. Why did Sun Pharma Advanced Research stock tanked? The company released a filing on Tuesday, after market hours, in which it said that the phase 2 clinical trials evaluating Vibozilimod (SCD-044) for the treatment of moderate-to-severe Psoriasis (SOLARES PsO) and Atopic Dermatitis (SOLARES AD) failed to meet primary endpoint of 75 per cent improvement in Psoriasis Area and Severity Index (PASI). "SPARC informs that its partner Sun Pharmaceutical Industries Limited (SPIL) announced the top-line results from the Phase 2 clinical trials evaluating Vibozilimod (SCD-044) for the treatment of moderate-to-severe Psoriasis (SOLARES PsO) and Atopic Dermatitis (SOLARES AD). SPIL informed that both SOLARES PsO and SOLARES AD studies did not meet the primary endpoint of 75 per cent improvement in PASI (Psoriasis Area and Severity Index) score (> PASI75) at Week 16 and 75 per cent improvement in EASI (Eczema Area and Severity Index) score (>EASI75) at Week 16 respectively," the filing read. It added: SPARC and SPIL will evaluate the appropriate next steps for SCD-044. Psoriasis is a chronic autoimmune condition characterised by skin inflammation and accelerated skin cell growth, resulting in raised, scaly patches called plaques, most commonly on the elbows, knees, scalp, and trunk. Atopic dermatitis, also known as eczema, is a chronic inflammatory skin condition characterised by dry, itchy, and inflamed skin. It's a long-term condition that can cause patchy rashes and can occur at any age, though it often begins in childhood.
Economic Times
3 days ago
- Business
- Economic Times
Sun Pharma Advanced Research shares tank 20% after psoriasis drug fails Phase 2 trials
Live Events Surprise FDA inspection at Halol unit About the drug and its target conditions (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Sun Pharma Advanced Research Company (SPARC), a unit of India's largest drug maker Sun Pharmaceutical Industries , tumbled as much as 20% on Wednesday to Rs 156.50 on the BSE after the company disclosed that its investigational drug SCD-044 failed to meet the main goals in late-stage clinical trials for psoriasis and atopic a filing released post-market hours on Tuesday, SPARC said, 'SPARC informs that its partner Sun Pharmaceutical Industries Limited (SPIL) announced the top-line results from the Phase 2 clinical trials evaluating Vibozilimod (SCD-044) for the treatment of moderate-to-severe Psoriasis (SOLARES PsO) and Atopic Dermatitis (SOLARES AD).""SPIL informed that both SOLARES PsO and SOLARES AD studies did not meet the primary endpoint of 75 per cent improvement in PASI (Psoriasis Area and Severity Index) score (> PASI75) at Week 16 and 75 per cent improvement in EASI (Eczema Area and Severity Index) score (>EASI75) at Week 16, respectively,' the company company further added, 'SPARC and SPIL will evaluate the appropriate next steps for SCD-044.'SPARC confirmed that, given the failure to meet primary endpoints, the development of the drug, also known as Vibozilimod, is being discontinued, and no further clinical trials are planned. The setback is significant as the drug was seen as a key asset in the company's speciality the past year, SPARC shares have declined about 3%, underperforming the benchmark Sensex, which has risen roughly 12% during the same CNBC-TV18 reported on Wednesday that a surprise inspection was underway at Sun Pharma's Halol facility, one of its largest manufacturing units, by three inspectors from the U.S. Food and Drug Halol unit was last inspected in May 2022 and is currently under an import alert following a warning letter from the was being developed as a treatment for psoriasis and atopic dermatitis, two chronic inflammatory skin conditions. Psoriasis is marked by raised, scaly plaques on the skin due to accelerated skin cell growth, often affecting the elbows, knees, scalp, and trunk. Atopic dermatitis, or eczema, typically involves dry, itchy, and inflamed skin, often beginning in childhood but potentially affecting people at any failure of the Phase 2 studies now casts uncertainty over SPARC's speciality drug pipeline, with investors and analysts awaiting further clarity on the company's next steps.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
3 days ago
- Business
- Time of India
Sun Pharma Advanced Research shares tank 20% after psoriasis drug fails Phase 2 trials
Shares of Sun Pharma Advanced Research Company (SPARC), a unit of India's largest drug maker Sun Pharmaceutical Industries , tumbled as much as 20% on Wednesday to Rs 156.50 on the BSE after the company disclosed that its investigational drug SCD-044 failed to meet the main goals in late-stage clinical trials for psoriasis and atopic dermatitis. In a filing released post-market hours on Tuesday, SPARC said, 'SPARC informs that its partner Sun Pharmaceutical Industries Limited (SPIL) announced the top-line results from the Phase 2 clinical trials evaluating Vibozilimod (SCD-044) for the treatment of moderate-to-severe Psoriasis (SOLARES PsO) and Atopic Dermatitis (SOLARES AD)." "SPIL informed that both SOLARES PsO and SOLARES AD studies did not meet the primary endpoint of 75 per cent improvement in PASI (Psoriasis Area and Severity Index) score (> PASI75) at Week 16 and 75 per cent improvement in EASI (Eczema Area and Severity Index) score (>EASI75) at Week 16, respectively,' the company said. The company further added, 'SPARC and SPIL will evaluate the appropriate next steps for SCD-044.' SPARC confirmed that, given the failure to meet primary endpoints, the development of the drug, also known as Vibozilimod, is being discontinued, and no further clinical trials are planned. The setback is significant as the drug was seen as a key asset in the company's speciality pipeline. Also read: Flipkart exits Aditya Birla Fashion and Retail in Rs 582 crore bulk deal; ABFRL stock tumbles 11% Over the past year, SPARC shares have declined about 3%, underperforming the benchmark Sensex, which has risen roughly 12% during the same period. Surprise FDA inspection at Halol unit Separately, CNBC-TV18 reported on Wednesday that a surprise inspection was underway at Sun Pharma's Halol facility, one of its largest manufacturing units, by three inspectors from the U.S. Food and Drug Administration. The Halol unit was last inspected in May 2022 and is currently under an import alert following a warning letter from the regulator. Also read | Sensex will hit 1.5 lakh by 2030 & 3 lakh by 2035! Raamdeo Agrawal makes big prediction About the drug and its target conditions Vibozilimod was being developed as a treatment for psoriasis and atopic dermatitis, two chronic inflammatory skin conditions. Psoriasis is marked by raised, scaly plaques on the skin due to accelerated skin cell growth, often affecting the elbows, knees, scalp, and trunk. Atopic dermatitis, or eczema, typically involves dry, itchy, and inflamed skin, often beginning in childhood but potentially affecting people at any age. The failure of the Phase 2 studies now casts uncertainty over SPARC's speciality drug pipeline, with investors and analysts awaiting further clarity on the company's next steps. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
