Ilumya is used for the treatment of the most common plaque psoriasis – a chronic immune disease that appears on the skin.
Shares of Sun Pharmaceutical Industries gained 3.4 percent in the early trade on Thursday as it has received USFDA approval for its psoriasis drug Ilumya.
Ilumya generically called as tildrakizumab-asmn falls in the category of specialty drugs - medications that treat complex or rare diseases such as cancer, autoimmune disorders, skin conditions among others.
Ilumya is used for the treatment of the most common plaque psoriasis – a chronic immune disease that appears on the skin.
Abhay Gandhi, President and Chief Executive Officer, North America, Sun Pharma said, "With the approval of ILUMYA and our long-standing commitment in dermatology, we are focused on making a difference for people living with moderate-to-severe plaque psoriasis."
Brokerage: Credit Suisse | Rating: Outperform | Target: Rs 640
The global brokerage firm said that MK-3222 approval should give medium-term visibility for co’s revenue. Its analysis for Halol’s Form 483 indicates that a re-inspection is not needed for clearance. It expects Halol to be cleared by September 2018.
Brokerage: IDFC Sec | Rating: Outperform | Target: Rs 587
The drug clearance, IDFC Sec said, is a major milestone in the firm’s speciality foray. It expects Tildrakizumab to be commercialised in the next couple of quarters. It also believes that the company is placed better than its Indian peers currently.
Brokerage: CLSA | Rating: Sell | Target: Raised to Rs 445
Tildrakizumab’s nod is on expected lines with a likely launch in H1FY19, it said. further, it estimated that peak sales of USD 330 million by FY22 is translating to NPV-based value of Rs 12 apiece. Estimate Sun to target 5% market share in the first year of launch. Having said that, inability to ramp up US sales is a key risk to Sun’s valuation.
Brokerage: Macquarie
The global research firm believes that the launch of the product will take place in a few months. The drug, it said, has the potential to generate USD 300-350 million revenue at the peak for the firm. The company believes that re-rating triggers are elusive and medium term pain cannot be ignored.
Brokerage: Jefferies | Rating: Hold
The brokerage house said that it is expecting Sun to launch Ilumya in the second half of this calendar year. Execution will be key & with this being sun's first foray in NBE.
Brokerage: Morgan Stanley
The research firm said that Ilumya should be the largest by sales in the years ahead. The nod is a milestone in transition from generic to a specialty firm. Assuming a market share of 5%, Sun could gross $300-500 m in sales over 2-4 Yrs.
At 09:17 hrs Sun Pharmaceutical Industries was quoting at Rs 514.95, up Rs 10.25, or 2.03 percent.
Posted by Rakesh Patil