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Shares of Sun Pharma Advanced Research Company (SPARC) jumped as much as 4.8 per cent to Rs 404.9, their biggest daily percentage gain in nearly a week.
The pharma research & development company expects to file with the US Food and Drug Administration its new drug application for cancer drug Taclantis by Q4 2019, it had said in a BSE filing on Tuesday.
The company says the deadline for USFDA to review ocular hypertension drug Xelpros and anti-epileptic agent Elepsia will be November 2018 and January 2019, respectively.
Morgan Stanley says in a note that SPARC seems to be nearing monetisation of its lead products. Sun Pharmaceutical Industries should benefit from the potential FY 2019 commercialisation of two mid-sized lead assets (Xelpros and Elepsia XR), it says.
SPARC was demerged from Sun Pharma in 2006, both firms share the same parent. Sun Pharma shares rose as much as 2.5 per cent to Rs 671.8.
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