Sun Pharma gains 2% on winning patent infringement case

NEW DELHI: Shares of Sun Pharma climbed 2 per cent in Thursday’s trade after DUSA Pharmaceuticals, an arm of the Mumbai-based drug maker, received relief from a US court in a patent infringement case.

The pharma giant made the announcement post markets hours of Wednesday.

Following the development, the stock rose 2.41 per cent to hit a high of Rs 424 on BSE. The gains on the counter have come after three days of consecutive fall. The scrip is down 14 per cent in last one month and 26 per cent for the ongoing calendar so far. On the technical front, the scrip has been trading lower than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.


The company said that Massachusetts-based DUSA has been granted preliminary injunctive relief by a federal district court prohibiting defendants Biofrontera Inc, Biofrontera Bioscience GmbH, Biofrontera Pharma GmbH, and Biofrontera AGf from using its confidential and proprietary trade secret information.

The court's order prohibits Biofrontera from making use of or disseminating DUSA's sales and financial information, customer lists and customer target lists, training and marketing materials, standard operating procedures, technical information, and unpublished clinical data, and any derivations thereof, effective immediately, it added.