The announcement was made before market hours today, 13 March 2019.

Meanwhile, the S&P BSE Sensex was down 6.33 points, or 0.02% to 37,529.33.

On the BSE, 11,000 shares were traded in the counter so far compared with average daily volumes of 2.46 lakh shares in the past two weeks. The stock had hit a high of Rs 200 and a low of Rs 197.50 so far during the day. The stock hit a 52-week high of Rs 438.25 on 24 April 2018. The stock hit a 52-week low of Rs 140.95 on 6 February 2019.

Sun Pharma Advanced Research Company (SPARC) and HitGen announced a research collaboration to identify novel small molecule leads for targets of interest. Under this collaboration, HitGen will apply its advanced technology platform, based on DNA-encoded library design, synthesis and screening, to discover novel leads for SPARC. Under the terms of the agreement, HitGen will receive upfront payment and will be eligible for certain milestone payments.

HitGen is a rapidly growing biotech company with headquarters and main research facilities based in Chengdu, China and with a subsidiary in the USA.

Sun Pharma Advanced Research Company reported net loss of Rs 69.02 crore in Q3 December 2018 as against net loss of Rs 58.07 crore in Q3 December 2017. Net sales rose 2.37% to Rs 19.88 crore in Q3 December 2018 over Q3 December 2017.

Sun Pharma Advanced Research Company (SPARC) is a global pharmaceutical company focused on continuously improving standards of care for patients globally through innovation in therapeutics and delivery.

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HitGen and Sun Pharma Advanced Research Company announced a research collaboration to identify novel small molecule leads for targets of interest. Under this collaboration, HitGen will apply its advanced technology platform, based on DNA-encoded library design, synthesis and screening, to discover novel leads for SPARC. Under the terms of the agreement, HitGen will receive upfront payment and will be eligible for certain milestone payments.

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Sun Pharma Advanced Research Company has received a communication from Sun Pharma Global FZE (SPGFZE), a wholly owned subsidiary of Sun Pharmaceutical Industries, informing that SPGFZE is not planning to launch ElepsiaTM XR (Levetiracetam Extended-Release Tablets) as CNS is not its focussed therapeutic area in US market, and therefore SPGFZE has decided to return the product rights back to SPARC.

SPARC had out-licensed ELEPSIATM XR to SPGFZE in July 2016; and was eligible for sales linked milestone and royalties upon commercialization of Elepsia TM XR.

Consequently, SPARC would find another partner for commercialising the captioned product.

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The announcement was made after market hours yesterday, 7 February 2019.

Meanwhile, the S&P BSE Sensex was down 196.75 points or 0.53% at 36,774.34.

On the BSE, 73,000 shares were traded on the counter so far as against the average daily volumes of 1.38 lakh shares in the past two weeks. The stock had hit a high of Rs 147.60 and a low of Rs 143.35 so far during the day.

Sun Pharma Advanced Research Company (SPARC) said it is receipt of an 'Order' from the Office of the Commissioner of GST & Central Excise, Mumbai East Commissionerate, demanding the payment of Service Tax along with penalty aggregating to Rs 46.04 crore along with interest under section 75 of the Finance Act, 1994. The company would contest the demand and would be filing an appropriate appeal against the Order within the stipulated period.

Sun Pharma Advanced Research Company (SPARC) is a clinical stage bio-pharmaceutical company focused on continuously improving standards of care for patients globally, through innovation in therapeutics and delivery.

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