Sun Pharma Advanced Research Company Ltd
SPAR

Sun Pharma Advanced Research Company Ltd (SPARC)

₹204.32.3%

Key Stats

₹202.35
Day's Price Range
₹209.7
₹170.45
52-Week Price Range
₹349
1 Month Return-5.5 %
3 Month Return-30.3 %
1 Year Return-10.19 %

Company Financials

  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 103
EPS
Rank 105
BVPS
Rank 127
Dividend Yield
Rank 38
ROE
Rank 163
Price To Book Ratio
Rank 81
Debt To Asset
Rank 126

Company Information

Sun Pharma Advanced Research Company Ltd. SPARC is a clinical stage biopharmaceutical company engaged in creating new drugs and delivery systems. The company works on innovation and new product development for global markets. They undertake projects in research and technology for new chemical entities NCEs or new molecules and novel drug delivery systems NDDS. Sun Pharmaceutical Advanced Research Company Ltd was incorporated on March 1 2006 as an innovative and development company. They commenced their operations on March 22 2006. As per the scheme of arrangement all the assets and liabilities of the Innovative Research Development business including Novel Drug Delivery System NDDS division of Sun Pharmaceuticals Industries Research Development undertaking stands transferred and vested in the company with effect from the appointed date on February 28 2007. The demerger became effective on March 28 2007. On the scheme being effective the company ceased to be the subsidiary of Sun Pharmaceutical Industries Ltd and the demerged company.Pursuant to the scheme the company issued and allotted 194418898 equity shares of Re 1 each to the equity shareholders of Sun Pharmaceutical Industries Ltd as on the record date April 30 2007. During the year 200910 the Department of Scientific and Industrial Research DSIR Government of India sanctioned a 15 year unsecured soft loan under their Drug and Pharmaceutical Research Programme for a project of the company.During 2011 the company announces USFDA approval for DOCEFREZ docetaxel for Injection. During 2012 the company provides rights issues to the share holders in the ration of 1:7. During 2014 the company announces Govt of India approval for Paclitaxel Injection Concentrate for Nanodispersion PICN.On 1 December 2014 Sun Pharma Advanced Research Company Ltd. SPARC announced that the U.S. Food and Drug Administration FDA has issued a Complete Response letter to its New Drug Application NDA for Latanoprost BAKfree eyedrops. While the FDA did not seek any additional information for supporting clinical data it sought additional information on certain labeling and other deficiencies for processing the NDA. SPARC believes that this additional information request from the FDA can be addressed on priority.On 4 March 2015 Sun Pharma Advanced Research Company Ltd. SPARC announced that the U.S. Food and Drug Administration FDA has approved its New Drug Application NDA for ELEPSIA XR Levetiracetam extendedrelease tablets 1000 mg and 1500 mg. ELEPSIA XR is indicated for adjunctive therapy in the treatment of partial onset seizures in patients 12 years of age and older with epilepsy. The product will be manufactured by Sun Pharmaceutical Industries Ltd at its Halol Gujarat facility in India.On 9 June 2015 Sun Pharma Advanced Research Company Ltd. SPARC and Sun Pharmaceutical Industries Ltd. announced that SPARC has licensed out Xelpros Latanoprost BAKfree eye drops to a subsidiary of Sun Pharma for the US market. In addition to upfront payment of US3 million SPARC will receive certain other milestone payments both totaling to US16 million from Sun Pharma. It is also eligible for certain defined royalties and additional milestone payments linked to the actual sales performance of Xelpros.On 1 August 2015 Sun Pharma Advanced Research Company Ltd. SPARC announced that the U.S. Food and Drug Administration USFDA has issued a Complete Response letter CRL to its New Drug Application NDA for Xelpros Latanoprost BAKfree eyedrops. SPARC submitted a response to an earlier CRL it had received from the USFDA wherein no additional preclinical or clinical data was required. While the USFDA has accepted the clarifications and changes to the labeling SPARC has now received another CRL from the USFDA seeking minor changes to the proposed labeling. SPARC hopes to address these requirements soon. This product is proposed to be manufactured at Sun Pharmaceutical Industries Ltd SPILs Halol facility and the USFDA has indicated that a satisfactory resolution of the cGMP deficiencies at this facility is a prerequisite for the final approval of Xelpros. SPARC had recently outlicensed this product to a subsidiary of Sun Pharmaceutical Industries Ltd SPIL.On 25 September 2015 Sun Pharma Advanced Research Company Ltd. announced that the U.S. Food and Drug Administration USFDA has issued a Complete Response letter CRL to its New Drug Application NDA for Elepsia XR Levetiracetam extendedrelease tablets 1000 mg and 1500 mg. SPARC had earlier received a final approval from USFDA in March 2015 for this product and was evaluating several marketing partners for commercialization. However SPARC has now received a CRL from the USFDA rescinding its earlier approval citing that the compliance status of the manufacturing facility was not acceptable on the date of approval. Elepsia XR is proposed to be manufactured at Sun Pharmaceutical Industries Ltd SPILs Halol facility. SPIL is working with USFDA in resolving the cGMP deviations at the facility and has taken several corrective measures.On 31 December 2015 Sun Pharma Advanced Research Company Ltd. SPARC informed the stock exchanges that the management expects a possible further delay in the projected royalty income for the company from XELPROS Latanoprost Ophthalmic Emulsion and Elepsia XR Levetiracetam extendedrelease tablets 1000 mg and 1500 mg. This follows a warning letter to Sun Pharmaceutical Industries Ltd SPIL from the USFDA for its facility located at Halol Gujarat in India. XELPROS and Elepsia XR are proposed to be manufactured at SPILs Halol facility.The Board of Directors of Sun Pharma Advanced Research Company Ltd. SPARC at its meeting held on 5 March 2016 approved rights issue of equity shares in the ratio of 5 equity shares for every 116 equity shares held as on the record date. The rights issue has been priced at Rs 245 per share. The company will raise upto Rs 250 crore from the rights issue.On 18 July 2016 Sun Pharma Advanced Research Company Ltd. SPARC and Sun Pharmaceutical Industries Ltd. announced a licensing arrangement for SPARCs ELEPSIA XR Levetiracetam Extended Release tablets. As per the agreement SPARC will license ELEPSIA XR Levetiracetam Extended Release tablets to a whollyowned subsidiary of Sun Pharma for the US market. SPARC will receive an upfront payment of US10 million from Sun Pharma. It is also eligible for certain additional milestone payments and defined royalties linked to any future sales of ELEPSIA XR.On 22 December 2016 Sun Pharma Advanced Research Company Ltd. SPARC informed the stock exchanges that the company has received a Complete Response Letter CRL from the USFDA for the New Drug Application NDA for Xelpros Latanoprost BAKfree eyedrops. The CRL references the recent inspection of Sun Pharmaceutical Industries Ltd.s Halol manufacturing site by USFDA and indicates that satisfactory resolution of the deficiencies identified during the inspection is required before the final approval of Xelpros. There are no requirements of any additional data from USFDA in the CRL. SPARC had outlicensed Xelpros to a subsidiary of Sun Pharmaceutical Industries Ltd. in June 2015.On 19 May 2017 Sun Pharma Advanced Research Company Ltd. SPARC informed the stock exchanges that the company has received a Complete Response Letter CRL from the USFDA for its New Drug Application NDA for Elepsia XRTM Levetiracetam extendedrelease tablets 1000 mg and 1500 mg. The CRL references the recent inspection of the Sun Pharmaceutical Industries Ltd. SPILs Halol manufacturing site by USFDA and indicates that satisfactory resolution of the deficiencies identified during the inspection is required before the final approval of Elepsia XR can be granted. SPARC had outlicensed Elepsia XR to a subsidiary of Sun Pharmaceutical Industries Ltd in July 2016. As informed to the company SPIL is working with USFDA for resolving the cGMP deviations at the Halol facility and has taken several corrective measures.The Board of Directors in their meeting held on 5th May 2017 approved the issue and allotment of up to 15151515 warrants each convertible into one fully paid equity share of the Company at a price of Rs 330 each to certain entities on preferential basis subject to receipt of necessary approvals including that of shareholders. Subsequently the approval of the members by way of a Special Resolution was obtained at an ExtraOrdinary General Meeting of the Company held on 2nd June 2017 and consequent to the receipt of inprincipal approval of the Stock Exchanges for issue of convertible warrants on Preferential Basis the Securities Allotment Committee of the Board in its meeting held on 14th July 2017 issued allotted 15151515 warrants each convertible into or exchangeable for one fully paid equity share of Rs 1 of the Company to such entities. VB Also the Board of Directors in their meeting held on 5th August 2017 annulled the forfeiture of 14 shares on receipt of applications along with the unpaid amount interest for delayed payment from the concerned shareholder.On 14 September 2018 Sun Pharmaceutical Industries Ltd. and Sun Pharma Advanced Research Company Ltd. SPARC announced U.S. Food and Drug Administration USFDA approval for the New Drug Application NDA of XELPROS latanoprost ophthalmic emulsion 0.005 for the reduction of elevated intraocular pressure IOP or pressure inside the eye in patients with openangle glaucoma or ocular hypertension. This approval is from Sun Pharmas Halol Gujarat India facility. Sun Pharma inlicensed XELPROS from SPARC in June 2015 and this approval will trigger a milestone payment to SPARC. SPARC is also eligible for milestone payments and royalties on commercialization of XELPROS in the US.
OrganisationSun Pharma Advanced Research Company Ltd
HeadquartersVadodara
IndustryMiscellaneous