Sun Pharma is shining bright in the pharma sector; from its close of yesterday at Rs.786.55, it went up to an intraday high at Rs.800.80, which is not too far from its 52-week high of Rs.804.40.
The stock price soared after the company along with Cassiopea SpA, announced the expiration of waiting period for the exclusive licence and supply agreement for Winlevi, a cream used to treat skin disease Acne vulgaris.
Sun Pharma, which had got the FDA approval in Aug’21has now got the exclusive right to commercialise Winlevi in the U.S. and Canada.
Cassiopea will be the exclusive supplier of the product.
The cream is expected to be available in the U.S. by Q4 of calendar year 2021.