Sun Pharma has completed a 12 weeks trail of its psoriasis drug, MK 3222, but needs 52-124 weeks data to apply for a license with the US FDA, says Surajit Pal, pharma analyst at Prabhudas Liladhar.
Sun Pharma on Thursday said it has successfully completed three clinical trials for its psoriasis drug, MK 3222.
The company has completed a 12 weeks trail, but needs 52-124 weeks data to apply for a licence with the US FDA, says Surajit Pal, pharma analyst at Prabhudas Liladhar.
Pal does not expect move on revenue or income side till FY19-20 as far as the drug is concerned. Previous anti-psoriasis drugs will become generic in next two to three years, which will add to pricing pressure, he says.
However, he adds that Sun Pharma could expect sales of USD 200-300 million from MK 3222.
Pal maintains his price target on the company at Rs 873 and says that Aurobindo and Jubilant remains his top picks in the sector.