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Business Standard
23-05-2025
- Business
- Business Standard
Sun Pharma to invest $25 million in Pharmazz Inc; raises stake to 22.7%
Sun Pharmaceutical Industries Ltd on Friday announced it will invest up to $25 million in US-based Pharmazz Inc, increasing its total stake in the biopharmaceutical company to 22.7 per cent. The investment, priced at $5.88925 per share in cash, will also trigger the conversion of an earlier Simple Agreement for Future Equity (SAFE) investment at a 20 per cent discount, translating to a conversion price of $4.7114 per share, the company said in a stock exchange filing. Sun Pharma stated that $10 million from the fresh investment, along with $7.5 million from the second SAFE tranche, will be infused by or before May 31, 2025. The remaining $15 million is expected to be invested by or before November 30, 2025, or on another mutually agreed date. Both drugs have been approved in India and are marketed via partners under the brand names Tyvalzi (Sovateltide) and Lyfaquin (Centhaquine). Sun Pharma currently holds exclusive rights to license and distribute Sovateltide in select emerging markets. Following this latest investment, the company will also gain the option to negotiate licensing rights for Sovateltide in certain developed countries. Pharmazz has received US FDA approval to conduct Phase-3 Investigational New Drug (IND) trials for both drugs. Notably, Sovateltide has also secured a Special Protocol Assessment (SPA) from the FDA, outlining a defined regulatory pathway. The company plans to initiate global Phase-3 trials to pursue approvals in the US and other international markets.
Economic Times
23-05-2025
- Business
- Economic Times
Sun Pharma to invest $25 mn in Pharmazz Inc; raises stake to 22.7 pc
Sun Pharmaceutical Industries Ltd on Friday said it has entered into an agreement with US-based Pharmazz Inc to invest up to USD 25 million, resulting in increasing its stake in the company to 22.7 per cent. The investment triggers conversion of earlier investment through SAFE (simple agreement for future equity) resulting in aggregate stake of up to 22.7 per cent in Pharmazz on a fully diluted basis, the company said in a regulatory filing. ADVERTISEMENT The first tranche of USD 10 million, along with the balance of USD 7.5 million out of SAFE tranche 2 investment, will be invested on or before May 31, 2025. The second tranche of USD 15 million will be invested on or before November 30, 2025 or such other mutually agreed date, it added. Pharmazz Inc is a biopharmaceutical company, developing two leading drug candidates, Sovateltide for treatment of acute cerebral ischemic stroke and Centhaquine for treatment of hypovolemic shock. Both products are approved in India and marketed through partners under brands Tyvalzi (Sovateltide) and Lyfaquin (Centhaquine), and are being developed for USA and other markets, it added. Subsequent to the investment, Sun Pharma will receive an option to negotiate licensing of Sovateltide for marketing and distribution in certain developed market countries. The company has already received exclusive right to licence Sovateltide for marketing and distribution in certain emerging market countries, it added. (You can now subscribe to our Economic Times WhatsApp channel)
Time of India
23-05-2025
- Business
- Time of India
Sun Pharma to invest $25 mn in Pharmazz Inc; raises stake to 22.7 pc
Sun Pharmaceutical Industries Ltd on Friday said it has entered into an agreement with US-based Pharmazz Inc to invest up to USD 25 million, resulting in increasing its stake in the company to 22.7 per cent. The investment triggers conversion of earlier investment through SAFE (simple agreement for future equity) resulting in aggregate stake of up to 22.7 per cent in Pharmazz on a fully diluted basis, the company said in a regulatory filing. The first tranche of USD 10 million, along with the balance of USD 7.5 million out of SAFE tranche 2 investment, will be invested on or before May 31, 2025. The second tranche of USD 15 million will be invested on or before November 30, 2025 or such other mutually agreed date, it added. Pharmazz Inc is a biopharmaceutical company , developing two leading drug candidates , Sovateltide for treatment of acute cerebral ischemic stroke and Centhaquine for treatment of hypovolemic shock. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ethiopia: Jewelry On Sale For Half Price! (See Price List) Luxury Jewelry | search ads Undo Both products are approved in India and marketed through partners under brands Tyvalzi (Sovateltide) and Lyfaquin (Centhaquine), and are being developed for USA and other markets, it added. Subsequent to the investment, Sun Pharma will receive an option to negotiate licensing of Sovateltide for marketing and distribution in certain developed market countries. Live Events The company has already received exclusive right to licence Sovateltide for marketing and distribution in certain emerging market countries, it added.
Business Standard
23-05-2025
- Business
- Business Standard
Windlas Biotech Ltd Slips 4.88%, BSE Healthcare index Shed 1.03%
Windlas Biotech Ltd has lost 9.89% over last one month compared to 1.44% fall in BSE Healthcare index and 1.1% rise in the SENSEX Windlas Biotech Ltd fell 4.88% today to trade at Rs 923. The BSE Healthcare index is down 1.03% to quote at 42080.34. The index is down 1.44 % over last one month. Among the other constituents of the index, Sun Pharmaceutical Industries Ltd decreased 4.08% and Indoco Remedies Ltd lost 3.58% on the day. The BSE Healthcare index went up 18.11 % over last one year compared to the 7.4% surge in benchmark SENSEX. Windlas Biotech Ltd has lost 9.89% over last one month compared to 1.44% fall in BSE Healthcare index and 1.1% rise in the SENSEX. On the BSE, 1506 shares were traded in the counter so far compared with average daily volumes of 5266 shares in the past one month. The stock hit a record high of Rs 1197 on 06 Nov 2024. The stock hit a 52-week low of Rs 552.85 on 04 Jun 2024.
Mint
22-05-2025
- Business
- Mint
Sun Pharma to ramp up growth-boosting specialty portfolio in FY26
Sun Pharmaceutical Industries Ltd will continue to focus on its specialty products in FY26, which contributed to India's largest drugmaker's growth last fiscal. The company plans to invest an additional $100 million on the commercialization of its new specialty product pipeline in the US, chairman and managing director Dilip Shanghvi said in an earnings call on Thursday. The total revenue from operations increased 8% year-on-year to ₹ 12,958.8 crore in the fourth quarter ended March, according to its exchange filing on Thursday. That was below ₹ 13,254 crore average revenue estimated by analysts surveyed by Bloomberg. The company's Ebitda (earnings before interest, taxes, depreciation and amortization) was up 22.4% at ₹ 3,716 crore, and adjusted net profit, excluding exceptional items, was up 4.8% year-on-year at ₹ 2,889 crore in the quarter. Sun Pharma's net profit, however, fell 19% year-on-year to ₹ 2,154 crore in Q4 due to exceptional items, including an impairment on an investment. That missed Bloomberg consensus estimate of ₹ 2,794 crore. For the full year, total revenue from operations rose 8.4% to ₹ 52,578.4 crore in FY25. The drugmaker expects its consolidated revenue to rise in mid-to-high single digits in FY26. Ebitda rose 17.3% in FY25, and its adjusted net profit jumped 19%. The performance was driven by improving market share in India and growth in its global specialty business, the company said. 'The near-term pipeline in global specialty is promising, with products such as Leqselvi and Unloxcyt—the latter through our recently announced Checkpoint acquisition—offering significant improvements in patient care,' Shanghvi said. 'We look forward to specialty becoming an increasingly important part of our business.' Leqselvi, used to treat severe alopecia areata–or hair loss in patches–has received approval for launch in the US, and Sun Pharma received a favourable ruling in a patent lawsuit on the drug in April. The company plans to launch it in the second quarter of this fiscal year, Abhay Gandhi, chief executive officer, North America, told investors during the earnings call. Uloxcyt, used to treat metastatic cutaneous squamous cell carcinoma (cSCC) or locally advanced cSCC, has also received approval for launch, and the company will share a launch timeline once the acquisition of Checkpoint Therapeutics is completed. 'For the current year, we are looking to invest approximately $100 million additionally on commercialization of new specialty [products],' Shanghvi told investors, adding that 'this investment will enable us to significantly strengthen our specialty business for the future.' The investment will be used for commercializing and promoting its new specialty products to healthcare practitioners as well as patient advocacy groups, the management said. The company also announced some changes in its global specialty clinical pipeline. 'We are now seeking a partner for future development and commercialization of MM2 (drug candidate for pain in osteoarthritis) in certain geographies,' Shanghvi said. Additionally, the company is now planning a phase 2 trial for its drug candidate GL0034 with diabetes as the first indication instead of weight loss.
