Dec 20, 2013, 02.24 PM IST
Basically Sun Pharmaceuticals was the only other supplier of Doxil generic (to treat cancer) in the US market. J&J was the innovator of the drug.
Tags Sun Pharma, Johnson and Johnson, Ben Venue, Doxil generic, cancer
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Sun Pharma dips 2% as J&J signs agreement to produce Doxil
Basically Sun Pharmaceuticals was the only other supplier of Doxil generic (to treat cancer) in the US market. J&J was the innovator of the drug.
Like this story, share it with millions of investors on M3
Sun Pharma dips 2% as J&J signs agreement to produce Doxil
Basically Sun Pharmaceuticals was the only other supplier of Doxil generic (to treat cancer) in the US market. J&J was the innovator of the drug.
Basically Sun Pharmaceuticals was the only other supplier of Doxil generic (to treat cancer) in the US market. J&J was the innovator of the drug.
J&J had leased it out to Ben Venue in terms of manufacturing of Doxil generic, but Ben Venue in terms of manufacturing Doxil generic ran into some problems. Hence the company that owns Ben Venue said that they were going to stop a certain plant because of the economic viability not being sufficient and that was the plant where Doxil generic was getting produced.
So, the windfall gain had come in to Sun Pharma because that would be the only company within the US who would manage to manufacture Doxil generic which is expected to be quite a popular successful product in the US market.
Going by the CY12 sales, Sun Pharma generated around USD 120 million from this particular drug in terms of sales. So now that J&J will possibly manufacture Doxil generic again, which means Sun Pharma's possible opportunity will be a lost opportunity. Hence, for the adjustment to that, the stock is possibly seeing weakness today, which is the EPS adjustment that was earlier anticipating for Doxil generic, Sun Pharma being the only player in the market.
At 14:16 hours IST, Sun Pharmaceutical Industries was trading at Rs 578, down 0.83 percent compared to previous close on the BSE.
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