Sun Pharma Advanced Research Company (SPARC) today said its two pivotal phase III studies of Baclofen GRS for treatment of spasticity in patients with multiple sclerosis did not meet the primary end point in placebo controlled studies.
Baclofen GRS is a novel, once-a-day formulation developed by the company's proprietary gastroretentive system (GRS) technology, SPARC said in a filing to BSE.
Commenting on the development, SPARC CEO Anil Raghavan said: "We are disappointed with the outcomes of these studies and will evaluate the data in greater detail to decide on our next steps."
Shares of Sun Pharma Advanced Research Company today closed at Rs 389.35 per scrip on BSE, down 0.64 per cent from its previous close.
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