Sun Pharma Advanced Research Company Ltd. (SPARC) on Monday announced that Abraxis Bioscience LLC has dismissed the patent infringement complaint filed against SPARC regarding SPARC’s New Drug Application for PICS (Paclitaxel Injection Concentrate for Suspension).
“We are very pleased that Abraxis Bioscience LLC has withdrawn its infringement claims paving the way for a successful launch as and when we receive necessary regulatory approvals,” said Anil Raghavan, CEO of SPARC.
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SPARC will also inform the USFDA of the dismissal of the complaint to vacate the 30-month stay.
Sun Pharma Advanced Research Company Ltd is currently trading at Rs159 up by Rs5.3 or 3.45% from its previous closing of Rs153.70 on the BSE.
The scrip opened at Rs154.85 and has touched a high and low of Rs162.40 and Rs151.70 respectively. So far 9,51,360 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs4,027.67cr.
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