Wednesday 22 January 2020
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SPARC shares rise after Abraxis Bioscience dismisses patent infringement complaint

Shares of Sun Pharma Advanced Research Co Ltd (SPARC) on Monday gained over 5 per cent after Abraxis Bioscience LLC dismissed the patent infringement complaint filed against the company. The scrip on the BSE settled at Rs 162.5, rising 5.73 per cent. During the day, the scrip increased to Rs 169.2, up 10.08 per cent from the previous close. Similarly on the NSE, the shares ended higher by 5.53 per cent at Rs 162.3. It touched intra-day of Rs 169.35 by increasing 10.11 per cent. On the traded volume front, over 3 lakh shares were traded on the BSE while more than 28.6 lakh scrips changed hands on the NSE during the trading session. The firm in a regulatory filing on Monday said Abraxis Biosciences LLC has dismissed the patent infringement complaint filed against Sun Pharma Advanced Research Co Ltd regarding SPARC s New Drug Application for PICS (Paclitaxel Injection Concentrate for Suspension). SPARC will also inform the USFDA of the dismissal of the complaint to vacate the 30-month .


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