SPARC announces the U.S. District Court Grants Summary Judgement in Favour of SPARC for Sezaby PRV

Sun Pharma Advanced Research Company Ltd. (Reuters: SPRC.BO, Bloomberg: SPADV IN, NSE: SPARC, BSE: 532872, "SPARC") today announced that the U.S. District Court for the District of Columbia granted summary judgment in favour of SPARC in the matter of issuance of Priority Review Voucher (PRV) associated with the approval of Sezaby.

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.

"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" said SPARC CEO, Anil Raghavan.

Shares of Sun Pharma Advanced Research Company Limited was last trading in BSE at Rs. 134.25 as compared to the previous close of Rs. 134.40. The total number of shares traded during the day was 13538 in over 280 trades.

The stock hit an intraday high of Rs. 135.40 and intraday low of 133.45. The net turnover during the day was Rs. 1817537.00.

Source : Equity Bulls

Keywords

SunPharmaAdvancedResearchCompany INE232I01014 SPARC Pharmaceuticals Summary FavorableJudgement SezabyPRV