Keeping their uptrend intact for the second session, shares of Sun Pharma Advanced Research Company (SPARC) soared another 11.5% in Wednesday’s session, December 3, hitting a six-month high of ₹179.50 apiece in an otherwise falling market.
In the previous session, the shares were locked at the 20% upper circuit limit after the company announced that the US District Court for the District of Columbia had granted summary judgment in its favor regarding the issuance of a Priority Review Voucher (PRV) associated with the approval of Sezaby.
Sezaby is a benzyl alcohol- and propylene glycol-free formulation of phenobarbital sodium powder for injection. It was approved by the US FDA for the treatment of neonatal seizures.
The Court granted SPARC’s motion for summary judgment and held that “FDA’s withholding of the PRV was contrary to law because no drug product containing phenobarbital sodium was ‘previously approved’ as that term is used in the statute,” and allowed 60 days to appeal against the motion.
Speaking about the development, SPARC CEO Anil Raghavan said, “We are pleased with the ruling issued today by the U.S. District Court, as it validates SPARC’s long-held position on this matter.”
SPARC share price trend
Taking the stock’s high price today into account, it has rallied 34%, taking its December return to 25% so far. In the recent months, the stock came under significant selling pressure, closing five out of the last six months in negative territory, losing a cumulative 28%.
The recent sell-off has also led to a 16.50% fall in 2025 so far, and it closed the year in negative returns, it will mark its second consecutive yearly loss. From its April 2024 high of ₹472.80, the stock currently trades 64.5% lower than that level.
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