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Monday, August 12, 2013

Sun Pharma shares clamber up! Then why net loss?

Now that’s surprising!! After admitting to a net loss of almost Rs. 1,276 crores in the June quarter, the top drug maker in India, Sun Pharmaceuticals shares have shown to be jumping up 9%! Loss of Sun Pharmaceuticals In the first quarter, Sun Pharmaceuticals India’s largest drug maker, according to the market, has reported a net loss of nearly Rs. 1,276 crore in its first Quarter. The company blamed a patent infringement suit with Pfizer for this happening and claimed it had to undergo this loss due to a whopping settlement with the US based pharma company. On Friday , Sun Pharmaceuticals declared that it had along with Teva Pharmaceuticals had made provision to settle the patent suit with Pfizer Inc and had shelled out $2.15 billion to come clean. Pfizer had filed a patent suit blaming Sun Pharmaceuticals of marketing the generic versions of Protonix, its acid-reflux drug. Stock reports A net profit of Rs. 795 crore, had been reported by the Mumbai based drug maker in the past y

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