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    SUNPHARMA   INE044A01036

SUN PHARMACEUTICAL INDUSTRIES LTD.

(SUNPHARMA)
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Five Indian drugmakers to jointly start local trial of Merck & Co's COVID-19 drug

06/29/2021 | 11:30am EDT
A handout photo of an experimental COVID-19 treatment pill, called molnupiravir and being developed by Merck & Co Inc and Ridgeback Biotherapeutics LP

June 29 (Reuters) - Five Indian generic drugmakers, including Cipla and Dr Reddy's Laboratories, said on Tuesday they would jointly conduct a clinical trial in India for Merck & Co's experimental anti-viral drug to treat mild COVID-19 in non-hospitalized patients.

Between March and April, each of these companies, including Sun Pharmaceutical Industries, Torrent Pharmaceuticals and privately held Emcure Pharmaceuticals, partnered with Merck to expand production of the drug, molnupiravir, hastening its availability in India to address a new wave of infections in the country.

The partnership gave the companies license to make and supply molnupiravir to India and more than 100 low- and middle-income countries following approvals or emergency authorization by local regulatory agencies, Merck said in late April.

On Tuesday, the Indian companies said they would jointly sponsor, supervise and monitor the clinical trial in the country, expected to take place between June and September this year in 1,200 patients.

The trial will be conducted following the approval of its protocol by the Drugs Controller General of India and the companies will independently approach regulatory authorities for approval to manufacture and supply molnupiravir in India after the trial's completion.

Coronavirus cases in India have declined from a devastating peak in April and May. However, health experts have said that the country should brace for a third wave by October.

Molnupiravir is currently being tested in a global late-stage study by Merck and partner Ridgeback Biotherapeutics for the treatment of non-hospitalized COVID-19 patients, with the data from the study expected in the fall of 2021. (Reporting by Vishwadha Chander and Manojna Maddipatla in Bengaluru; Editing by Maju Samuel and Vinay Dwivedi)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CIPLA LIMITED 0.37% 957.9 Delayed Quote.16.22%
DR. REDDY'S LABORATORIES LIMITED -0.67% 4931.7 End-of-day quote.-5.23%
SUN PHARMACEUTICAL INDUSTRIES LTD. 0.15% 782.25 Delayed Quote.31.79%
TORRENT PHARMACEUTICALS LIMITED -0.36% 3111.75 End-of-day quote.11.11%
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Financials
Sales 2022 379 B 5 163 M 5 163 M
Net income 2022 65 811 M 895 M 895 M
Net cash 2022 90 017 M 1 225 M 1 225 M
P/E ratio 2022 27,5x
Yield 2022 0,63%
Capitalization 1 874 B 25 462 M 25 495 M
EV / Sales 2022 4,70x
EV / Sales 2023 4,16x
Nbr of Employees 37 000
Free-Float 82,8%
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Number of Analysts 30
Last Close Price 781,05 INR
Average target price 845,39 INR
Spread / Average Target 8,24%
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Managers and Directors
Dilip Shantilal Shanghvi Managing Director & Executive Director
C. S. Muralidharan Chief Financial Officer
Israel Makov Non-Executive Chairman
Atanu Roy SVP & Chief Information Officer
Davinder Singh Executive Vice President-Global Operations