Shasun Pharma rises on acquiring global rights of Ibuprofen 12 hour extended release OTC

Shasun Pharmaceuticals is currently trading at Rs. 129.70, up by 1.95 points or 1.53% from its previous closing of Rs. 127.75 on the BSE. The scrip opened at Rs. 129.40 and has touched a high and low of Rs. 133.45 and Rs. 125.25 respectively. So far 471078 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 138.70 on 28-Apr-2014 and a 52 week low of Rs. 45.60 on 26-Jun-2013. Last one week high and low of the scrip stood at Rs. 138.70 and Rs. 114.00 respectively. The current market cap of the company is Rs. 736.11 crore. The promoters holding in the company stood at 41.97% while Institutions and Non-Institutions held 16.41% and 41.63% respectively. Shasun Pharmaceuticals, Chennai, India an integrated pharmaceutical company through its wholly owned subsidiary, SVADS Holdings, Switzerland (SVADS) has acquired the global rights from ScolrPharma, USA (Scolr), to develop and commercialize Ibuprofen 12 hour Extended Release OTC tablets (Asset) as well as the associated Controlled Release Technology (CDT) along with global rights of Nuprin trademark, a well known brand in Analgesics. The Asset, having completed a successful Phase III in the US is a differentiated long acting NSAIDS in the Multi Billion Dollar global OTC analgesic market. Shasun is the world's leading, vertically integrated manufacturer of Ibuprofen and its Derivatives, from actives to formulated packaged products for both the Rx and OTC markets. This acquisition complements Shasun's strategy to expand its range of NSAIDS products through novel, safe and efficacious delivery technologies including transdermal applications across its Ibuprofen franchise. Shasun Pharmaceuticals manufactures active pharmaceutical ingredients (APIs), their intermediates and enteric coating excipients with a significant presence in some key generics. Shasun has created a strong product portfolio, building on its R&D Expertise, regulatory capabilities and multi scale production capacities. It is one of the largest producers of Ibuprofen worldwide.