'Glenmark to profit from drug price hike, +ve on Sun Pharma'

The decision by Taro Pharma, Sun Pharma's Israeli subsidiary, to provide keveyis free of cost to distributors is likely to impact revenues of about USD 25 million, says Praful Bohra, VP Research at Religare.Keveyis is a drug used to treat an ultra-rare form of paralysis.

Bohra, however, said Taro's decision will not have a major impact on Sun stock and he has a positive view on Sun Pharma.

Religare has a target price of Rs 950 for Sun shares.

He also discussed Glenmark’s price hike on mupirocin, saying the move would be a positive for the company.