Dec 20, 2012, 04.19 PM | Source: Reuters

Shasun Pharmaceuticals falls on Vertex drug warning

SHASUN-PHARMACEUTICALS-FALLS:Shasun Pharmaceuticals falls on Vertex drug warning

Reuters Market Eye - Shasun Pharmaceuticals falls 6 percent after its Vertex Pharmaceuticals warned on Wednesday its hepatitis C drug Incivek, which is used in conjunction with two other products, can cause serious, potentially fatal skin reactions.

Shasun has a long-term agreement with Vertex for supply of active pharmaceutical ingredient for the Hepatitis C drug.

"There would be incremental impact on Shasun as about 25 percent of FY13 profits were expected to come in from Incivek supply," said Surya Patra, an analyst tracking the sector at Systematix Shares & Stocks.

(Reporting by Abhishek Vishnoi)


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