FDA Import Alert At Sun’s Site: Here’s The Long And Short Of The Impact
US FDA import alert at Halol site comes as a setback for Sun Pharma, but analysts shrug off wider concerns for now given the low dependence on the facility for future growth. Investors are, however, also tracking the escalated compliance situation for the firm’s Mohali plant, inherited via the Ranbaxy deal.
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Sun Pharma sees all time high market share and prescription trends in the US for key specialty products and remains upbeat on the prospects of deuruxolitinib for alopecia areata. The company also isn’t ruling out a potential comeback, at least not yet, for a higher dose version of the JAK1/2 inhibitor.
Sun delivered an exceptional Q2 performance, marred by a 9% decline in its US business due to a significant drop in lenalidomide sales.
Sun outlines contours of path ahead for deuruxolitinib, which came to it via the recent $576m Concert deal and pits it against Eli Lilly's Olumiant and Pfizer's investigational candidate ritlecitinib. The Indian firm is believed to have had the JAK 1/2 inhibitor on its radar since August last year.