Drugmaker Sun Pharmaceutical Industries, in its earnings call, stated that its research and development (R&D) spending will increase in the coming quarters. This hike is intended to help the company meet its target R&D spending that it guided in the previous quarter.
The drugmaker had rolled out guidance to increase its R&D spend to 10 percent of total revenues for FY25, compared to 7-8 percent in FY24. The company's R&D spending spans both specialty and generic businesses and aims at strengthening its product pipeline across various markets.
Sun Pharma's R&D investments for the April-June period rose to Rs 794 crore, compared to Rs 680 crore in Q1 FY24, but were lower than the Rs 900 crore spent in the previous quarter.
In Q1 FY25, approximately half of the total R&D expenditures were dedicated to the development of the company's specialty portfolio, the management stated.
Sun Pharma's current specialty R&D pipeline comprises six new active substances, which are undergoing clinical studies.
"Our extensive product portfolio in the US market includes 537 approved ANDAs (Abbreviated New Drug Applications), with 103 ANDAs pending US FDA approval, including 28 tentative approvals. Additionally, we have 51 approved NDAs, while 14 NDAs are awaiting US FDA approval. In the past quarter, we filed one ANDA and received three approvals," the company said.
Meanwhile, the company's focus on ramping up its specialty portfolio also met with results, as the US drug regulator recently gave a green light to Sun Pharma's specialty drug Leqselvi.
Leqselvi is prescribed for the treatment of severe alopecia areata and is projected to generate around $200 million in sales over the next three to four years. This drug will also significantly strengthen Sun Pharma’s specialty drug portfolio.
Aside from that, the company also sought approval for another specialty drug, Nidlegy, used to treat melanoma and non-melanoma skin cancers. "If approved, Nidlegy would become the first immunocytokine product to gain marketing authorization," the company stated.
Also Read | Sun Pharma to increase R&D spending in specialty products: MD Dilip Shanghvi
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