Sun Pharma Advan down in the red
By
Research Desk
about 11 years ago
Sun Pharma Advanced Research is deep in the red today. The stock is down currently 3.35% at Rs.124, with an intra day low at Rs.121. Market cap stands at Rs.2934 crore.
The stock is in the red following news that the USFDA has rejected its new drug application for an anti-epileptic product. The company had filed an application with the US authority to launch 1,000 mg and 1,500 mg tablets of Levetiracetam. The US authority has states that it could not approve the drug in its present form. It has raised concerns over the the relationship between the dosing regimen and the body's exposure to the drug. The company, following this rejection is planning to hold further discussions with USFDA and hopes to resolve the issue.