Sun Pharma Advanced Research Company (SPARC) hits its upper curcuit on parent pact with Merck, Latest Stock Price
Sun Pharma Advanced Research Company (SPARC) locks to its upper curcuit of 20% on 13th April 2011 to Rs 94.80 after Sun Pharma; the parent company said that a research-oriented listed company will contribute its technology for the Joint Venture (JV) wherever necessary.
"SPARC will contribute its technology and whenever the products of the JV are developed, SPARC will get upfront and milestone payments," said Dilip Shanghvi, chairman and managing director of the company.
On Monday,11th April, Sun Pharma has announced that it is setting up a JV with Merck & Co to develop, manufacture and sell new combination and versions of branded generics in emerging markets.
The emerging markets are expected to drive 90% of the world's pharmaceutical growth, with 75% of that growth will come from sales of brand-name generics, the company said in a filing to the stock exchanges.