Sun Pharma subsidiaries settle US antitrust litigation for $200 million
Under the terms of the agreement, SPII and Taro will make a combined payment of $200 million. In return, all claims brought against them—along with their current and former parents, affiliates, predecessors, successors, directors, officers, employees, and representatives—will be fully released by the settlement class members in the End Purchaser Action.
The settlement amount may be reduced if more than a certain percentage of total insured class members opt out of the class.
Sun Pharma clarified that the settlement is being entered into without any admission of wrongdoing. The agreement remains subject to court approval.
In the meantime, Sun Pharma shares closed at ₹1,692.00 today, after opening at ₹1,682.50. During the session, the stock touched an intraday high of ₹1,696.00 and a low of ₹1,680.10. The stock remains below its 52-week high of ₹1,960.35, while staying comfortably above the 52-week low of ₹1,553.05.
Ahmedabad Plane Crash
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
MRNA Beats on Q2 Earnings & Sales, Stock Down on Lowered Sales View
Moderna MRNA incurred a loss of $2.13 per share in the second quarter of 2025, narrower than the Zacks Consensus Estimate of a loss of $2.99. In the year-ago period, the company had reported a loss of $3.33. Total revenues in the quarter were $142 million, which beat the Zacks Consensus Estimate of $127 million. Revenues declined by around 41% year over year, owing to lower net product sales. More on MRNA's Q2 Earnings Moderna currently has two marketed vaccines in its portfolio, the COVID-19 vaccine Spikevax and the recently launched RSV vaccine mResvia. Product sales were down 38% year over year to $114 million due to lower Spikevax sales. Per Moderna, almost the entirety of this number was generated from Spikevax, with a 'negligible' contribution from mResvia. Moderna generated $28 million from grants, collaborations, licensing and royalty revenues in the quarter, down 51% year over year. The company usually earns collaboration revenues from agreements with several big pharma/biotech companies, including Merck MRK and Vertex Pharmaceuticals. Operating Costs Decline Amid Streamlining Efforts Selling, general and administrative (SG&A) expenses were $230 million, down 14% year over year. This downside was primarily due to broad-based cost-cutting activities. Research & development (R&D) expenses were down 43% to $700 million, driven by the reduction in clinical spending across respiratory programs due to the timing of clinical studies and program wind-downs. MRNA Revises '25 Outlook Moderna revised its total revenue guidance for the full year, which was initially issued in January. It now expects total revenues in the range of $1.5-$2.2 billion, which reflects a $300 million cut from the upper end of the previous guidance of $1.5-$2.5 billion. Per the company, this revision is mainly driven by the timing shift of deliveries of contracted revenue for the U.K. into the first quarter of 2026. Shares of Moderna were down 6% in pre-market trading today, attributed to the downgrade in guidance. Year to date, the stock has underperformed the industry. Image Source: Zacks Investment Research Owing to the seasonality of its respiratory business, Moderna is expected to generate the majority of the guided revenue in the second half of the year. The company has already recorded total revenues worth $250 million in the first half of 2025. For the second half, Moderna expects a revenue split of 40-50% in the third quarter, with the balance in the fourth quarter. MRNA also lowered the guidance for R&D expenses during the quarter, now expecting to incur between $3.6 billion and $3.8 billion (previous guidance: $4.1 billion). This is likely to be due to the company's plans to cut nearly 10% workforce, as announced yesterday. Moderna reiterated its projections for SG&A expenses to be around $1.1 billion. The company also lowered its forecasts for capital expenditure to be about $0.3 billion (previous guidance: $0.4 billion). Moderna expects to end 2025 with cash, cash equivalents and investments of nearly $6 billion. MRNA's Recent Pipeline Updates The company secured three regulatory approvals from the FDA in the past few months. These include label expansion for using mResvia in high-risk adults aged 18-59 and full approval for Spikevax in pediatric patients aged between six months through 11 years old (previously granted emergency use authorization for this population by the agency). The FDA also approved mNexspike, a next-generation refrigerator-stable version of Spikevax. Moderna is also evaluating several pipeline candidates in late-stage development. Last month, the company reported that a phase III efficacy study (P304) showed that its influenza vaccine candidate, mRNA-1010, achieved superior relative vaccine efficacy to an approved flu shot marketed by GSK. The above results not only supports potential approval of the standalone flu shot but also strengthen the case for refiling mRNA-1083, an investigational combination vaccine against COVID-19 and influenza. In May, Moderna voluntarily withdrew a filing with the FDA for mRNA-1083 after the agency requested additional efficacy data for the flu component. This candidate integrates the company's COVID-19 shot with mRNA-1010. Moderna is currently in discussions with the FDA regarding data requirements for resubmitting the regulatory filing. An important candidate in the company's pipeline is intismeran autogene, a personalized cancer therapy, which is being developed in collaboration with Merck. The companies are evaluating the therapy in three pivotal phase III studies, one in the melanoma indication and the other two in the non-small cell lung cancer space. It is also being evaluated in separate mid-stage studies for high-risk bladder cancers (both muscle-invasive and non-muscle-invasive) and adjuvant renal cell carcinoma. Moderna and Merck recently launched a new phase II study evaluating the therapy as a first-line treatment for patients with metastatic melanoma. In a separate press release, Moderna announced that the U.K. Court of Appeal has upheld the validity of its EP'949 patent and infringement by Pfizer PFE/BioNTech's BNTX COVID-19 vaccine Comirnaty. The patent relates to chemically modified mRNA, one of the company's foundational technologies that enables the development of mRNA-based medicines. The latest decision affirms the High Court's initial ruling from last year, which was also in Moderna's favor. Moderna, Inc. Price Moderna, Inc. price | Moderna, Inc. Quote MRNA's Zacks Rank Moderna currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pfizer Inc. (PFE) : Free Stock Analysis Report Merck & Co., Inc. (MRK) : Free Stock Analysis Report Moderna, Inc. (MRNA) : Free Stock Analysis Report BioNTech SE Sponsored ADR (BNTX) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Upturn
3 hours ago
- Business Upturn
Nifty top gainers this week (ending August 1): Jio Financial Services, Hindustan Unilever, L&T, Asian Paints, Trent and more
By Aman Shukla Published on August 2, 2025, 09:12 IST The Indian stock market closed Friday's session on a downbeat note, with both benchmark indices—the Sensex and Nifty 50—slipping around 1% each. The Sensex ended 586 points lower at 80,600, while the Nifty dropped 203 points to close at 24,565. This marks the fifth consecutive weekly fall for the Indian equity market, making it the longest losing streak in nearly two years. Despite the bearish close to the week, several heavyweight stocks in the Nifty 50 index delivered notable weekly gains. Let's take a closer look at the top 10 losers of the Nifty 50 this week, according to Trendlyne. Top Nifty Gainers for the Week Jio Financial Services : Up 5.9%, closed at ₹329.5 Hindustan Unilever : Up 5.7%, closed at ₹2553.7 Larsen & Toubro : Up 4.2%, closed at ₹3587.3 Asian Paints : Up 4.1%, closed at ₹2431.0 Trent : Up 2.7%, closed at ₹5180.0 Hero MotoCorp : Up 1.9%, closed at ₹4311.6 Eicher Motors : Up 1.8%, closed at ₹5528.0 ITC : Up 1.7%, closed at ₹416.5 Tata Consumer Products : Up 1.5%, closed at ₹1070.4 Grasim Industries: Up 0.5%, closed at ₹2722.2 Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ask ChatGPDisclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Asian PaintsHindustan UnileverJio Financial ServicesL&TNiftyTrent Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Upturn
3 hours ago
- Business Upturn
Nifty top losers this week (ending August 1): Adani Enterprises, Wipro, Kotak Mahindra Bank, Tata Motors, Tata Steel and more
By Aman Shukla Published on August 2, 2025, 09:17 IST The Indian stock market wrapped up Friday's session (August 2) on a weak note, with both benchmark indices—BSE Sensex and NSE Nifty 50—sliding nearly 1% each. The Sensex dropped 586 points to close at 80,600, while the Nifty 50 ended the day 203 points lower at 24,565. This marks the fifth straight weekly decline for Indian equities—its longest losing streak in nearly two years. Several heavyweight stocks took a significant hit this week. Based on data from Trendlyne, here are the top 10 losers from the Nifty 50: Top Nifty Losers for the Week Adani Enterprises Closed at ₹2,350.90, down 7.8% this week. Wipro Ended at ₹242.80, falling 6.4% over the week. Kotak Mahindra Bank Settled at ₹1,992.40, slipping 6.2% . Tata Motors Closed at ₹648.90, down 5.6% week-on-week. Tata Steel Finished at ₹153.00, declining 5.2% . IndusInd Bank Ended the week at ₹783.70, lower by 4.9% . Bharat Electronics Closed at ₹377.20, posting a 4.6% weekly drop. Dr. Reddy's Laboratories Settled at ₹1,220.60, down 4.5% . Titan Company Finished at ₹3,316.00, falling 4.2% over the week. Tata Consultancy Services (TCS) Ended the week at ₹3,003.00, down 4.2%. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Adani enterprisesKotak Mahindra BankNiftyTata MotorsTata SteelWipro Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
