SPARC is reviewing the CRL and intends to work with the USFDA as soon as possible to address the concerns raised, it added.
The acquisition includes full assignment of all patents and patent applications owned or controlled by Bioprojet related to SCD-044.
Xelpros is used in the treatment for the reduction of elevated intraocular pressure (IOP, or pressure inside the eye) in patients with open-angle glaucoma or ocular hypertension.
The company said it is targeting a new drug application with the US health regulator in the next few months.
PICS is a novel formulation of Paclitaxel developed using SPARC's proprietary Nanotecton technology.
This approval is from Sun Pharma’s Halol (Gujarat, India) facility.
Ashwani Gujral of ashwanigujral.com suggests buying Sobha, Chennai Petroleum Corporation, Piramal Enterprises and SPARC.
Jewellery stocks, the likes of PC Jeweller and Titan Company which were up between 3-4 percent while ICICI Bank was the top gainer in the Nifty50 Index while SPARC plunged 11 percent intraday.
Ashwani Gujral of ashwanigujral.com recommends buying Tata Global Beverage, Sun Pharma Advanced Research Company and IndusInd Bank.
Ashwani Gujral of ashwanigujral.com recommends buying Sun Pharma Advanced Research Company, Godrej Consumer and Karnataka Bank.
Total income of the company however rose to Rs 24.62 crore as against Rs 24.50 crore for the same period a year ago.
For traders, we recommend booking profit on every rise near 9,950-10,000 while any dip near 9,850 can be used to make fresh longs with keeping stop out below 9,800.
Vishal Malkan of malkansview.com advises selling Power Finance Corporation with target of Rs 115.
Anil Raghavan, CEO, SPARC, the results confirms that device is highly efficient and consistent in delivering more drug to the lungs and suitable for all classes of patients.
Ashwani Gujral of ashwanigujral.com recommends buying Sun Pharma Advanced Research Company, Manpasand Beverage and Indraprastha Gas.
The company had posted a net loss of Rs 41.02 crore for the same period of previous fiscal, SPARC said in a regulatory filing.
The market ended 2016 on a positive note as the Nifty and the Sensex gained 1 percent higher. Annually, the Nifty metal saw an uptick of 45 percent. For the week, FMCG stocks outperformed with 6 percent gains.
Healthcare major Sun Pharmaceutical Industries shares rebounded over 2 percent intraday Friday on short covering and after the company picked up a stake in the US company. Analysts say Halol plant resolution is the key for future growth.
Ashwani Gujral of ashwanigujral.com is of the view that one may sell Dabur India and Vedanta and buy Sun Pharma Advance Research Company.
Shares of Sun Pharma Advanced Research Company, the subsidiary of healthcare major Sun Pharmaceutical, surged nearly 7 percent intraday Thursday after receiving complete response letter from the US health regulator for preservative-free eye drop.