Declining sale of key drug weighs on Sun Pharma, stock down 7% in 2 days

Sales of acne drug Absorica were down 26 per cent on a sequential basis in the March quarter. The Sun Pharma stock has shed seven per cent over the past two trading sessions, as the declining sales trend for a key specialty product, coupled with worries over continued price erosion, weighs on the drug major’s revenues and earnings. Given that specialty products are expected to be the mainstay of Sun Pharma’s revenue growth amid rising pressures in the generic business, hurdles for its specialty pipeline would have an impact on earnings.

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