Sun Pharma to consider declaration of interim dividend for FY 2020-21


Sun Pharma, in a communication to the stock exchanges has informed that the Board of Directors of the company, in at its meeting scheduled to be held on Friday, January 29, 2021, will consider declaration of Interim Dividend on the equity shares of the Company, for the financial year 2020-21.

ICICI Direct, in its third quarter (October-December’ 20) earnings estimates for the Healthcare sector, sees Sun Pharma to report net profit at Rs. 1,319 crore up 44.4% year-on-year (down 27.2% quarter-on-quarter).

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According to the brokerage, Net Sales are expected to increase by 5.9% Y-o-Y (up 1% Q-o-Q) to Rs. 8,636 crore.

Earlier in January, the pharma company announced that it has initiated Phase 2 clinical trial for a product being developed to treat patients with moderate to severe plaque psoriasis.

The Phase 2 study is a randomised, double-blind, placebo-controlled study to assess the efficacy and safety of SCD-044 (novel molecule) in the treatment of moderate to severe plaque psoriasis, Sun Pharmaceutical Industries said in a statement.

The study will enroll around 240 subjects and topline results are expected in 2022.

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Sun Pharma share has gained over 22% in the last three months. In the last one year, the share is up by 33%.

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