Sun Pharmaceutical Industries Limited experienced a sharp decline in its market capitalization, dropping by approximately ₹16,816 crore as its shares fell 3.92% to ₹1,785.50 on the NSE. This downturn in stock value comes as the US District Court of New Jersey issued a preliminary injunction, blocking Sun Pharma from launching its new drug, ‘LEQSELVI,’ aimed at treating severe alopecia areata. The injunction will remain effective until a favorable court decision or the expiration of the relevant patent.
The injunction was issued following Sun Pharma’s challenge filed on August 1, further impacting investor sentiment around the stock. Despite Sun Pharma’s strong position in the pharmaceutical industry, this legal setback has influenced its market performance.
As of now, Sun Pharma’s total market capitalization stands at ₹4,28,185.32 crore.
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