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Shilpa Medicare on launching Sunitinib capsules in India with stock down by 5%

Shilpa Medicare has announced the launch of Sunitinib Capsules, under the brand name SUNISHIL which has proven to be bioequivalent to sutent capsules of Pfizer.

Three strengths of Sunitinib capsules 12.5 mg, 25 mg and 50 mg is launched at an attractive price for the benefit of patients.

As on 15th February, 2021, the share price of Shilpa Medicare has dropped by 5.5 percent intraday.

In the past six months, the stock has declined by 31.99% while the benchmark Sensex has added 37.61% during the same period.

The company’s Sunitinib capsules will be manufactured and supplied from finished product facility at Jadcherala (Telangana).

The drug maker’s consolidated net profit fell 10.4% to Rs 45.21 crore on a 3.8% decline in net sales to Rs 278.94 crore in Q2 September 2020 over Q2 September 2019.

Moreover, Sunitinib malate is a novel oral multi targeted tyrosine kinase inhibitor with antitumor and antiangiogenic activities.

The Drug is indicated for the treatment of G.I. Stromal tumor after disease progression on or intolerance to Imatinib mesylate, advanced Renal Cell Carcinoma etc.

Reportedly, Shilpa Medicare was quoting at Rs 420, down by Rs 10.05, or 2.34 percent, on the BSE at 11:42 hours.

On August 11, 2020 and March 31, 2020, the share reached its 52-week high of Rs 692.45 and 52-week low of Rs 240.30 respectively.

Currently, the company is trading at 39.35 percent below its 52-week high and 74.78 percent above its 52-week low.

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