Sun Pharma up after US Appeals Court paves way for alopecia drug
Indian drugmaker Sun Pharmaceutical (BSE: 524715) shares were buzzing in trade on the last trading day of the week to April 11, rising as much as 5%.
The rise in the Sun Pharma share price came after a favorable ruling from the US District Court for the District of New Jersey regarding its planned launch of its alopecia drug Leqselvi (deuruxolitinib). The drug gained US Food and Drug Administration in July last year for the treatment of adults with severe alopecia areata.
Sun Pharma acquired Leqselvi when it took over US-based Concert Pharma in 2023 in a deal valued at $576 million and has said Leqselvi offers "best-in-class" properties.
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