Net Loss of Sun Pharma Advanced Research Company reported to Rs 99.54 crore in the quarter ended March 2020 as against net loss of Rs 9.35 crore during the previous quarter ended March 2019. Sales declined 73.23% to Rs 22.71 crore in the quarter ended March 2020 as against Rs 84.83 crore during the previous quarter ended March 2019.

For the full year,net loss reported to Rs 312.40 crore in the year ended March 2020 as against net loss of Rs 145.43 crore during the previous year ended March 2019. Sales declined 57.99% to Rs 76.82 crore in the year ended March 2020 as against Rs 182.87 crore during the previous year ended March 2019.

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Sun Pharma Advanced Research Company and Sun Pharmaceutical Industries announced a worldwide licensing agreement on thedevelopment and commercialization of SCD-044 which is being evaluated as a potential oral treatment for atopic dermatitis, psoriasis and other auto-immune disorders. SCD-044 is entering phase 2 clinical trials.

Under terms of the license agreement, Sun Pharma will pay SPARC an upfront payment of US$ 20 million. SPARC will also be eligible to receive up to US$ 125 million as milestone payments contingent upon theachievement of clinical, regulatory and sales milestones, as well as tiered royalties on sales. Sun Pharma will be responsible for the development, regulatory filings, manufacturing and commercialization of the productglobally.

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Sun Pharma Advanced Research Company will hold a meeting of the Board of Directors of the Company on 2 June 2020.

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Sun Pharma Advanced Research Company announced the resignation of Mark Simon, tendering his resignation as an Independent Director of the company.

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