Sun Q3 Profits Dive, Halol Resolution Stays Pivotal To Trigger Reset

 
• By Anju Ghangurde

Sun Pharma reported a sharp decline in Q3 profits, dented by tax adjustments related to changes in US tax rates and continuing pricing pressures there. With Q4 revenues expected to to be "similar” to Q3, all eyes are on the Halol site making the compliance cut and the upcoming PDUFA date for Sun’s psoriasis asset.

Pharma pills
US PRICING PRESSURE CONTINUES TO WEIGH DOWN SUN'S EARNINGS

India’s top ranked pharmaceutical company, Sun Pharmaceutical Industries Ltd., reported a weak set of numbers in the third quarter, jaded by continuing pricing pressures in the US and adjustments for tax reforms there.

Net profits plunged by more than 75% to INR3.65bn ($57m), blunted by a one-time deferred tax adjustment of INR5.13bn related...

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