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US Pricing Squeeze Clouds Sun Pharma Q2; Site Re-Inspection Critical

 
• By Anju Ghangurde

Further evidence of the impact of pricing pressure in the US was provided when Sun Pharma reported a sharp fall in profits in Q2 (although it beat the expectations of some analysts). Sun also expects a delay in EU approval for its late stage psoriasis asset, tildrakizumab, but US approval timelines appear unchanged, at least for now.

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SUN REPORTED A TOUGH Q2 BUT EXPECTS A GRADUAL IMPROVEMENT IN THE SECOND HALF

Sun Pharmaceutical Industries Ltd. reported a 59% decline in net profits for the second quarter ended September at INR9.12bn ($139.4m), while sales were down 15% to INR65.90bn, dented by ongoing pricing pressure in the US and continued investments towards developing the firm’s global specialty business. (Also see "Tepid Q3 For Sun But Momentum In Specialty Build-Up" - Scrip, 16 February, 2017.)

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