SPARC share price tumbles 20% as Sun Pharma’s arm halts development of Psoriasis drug
SPARC share price: Shares of Sun Pharma Advanced Research Company (SPARC), the research division of India’s top pharmaceutical firm Sun Pharma, fell 20% on Wednesday after unsatisfactory results from Phase 2 trials of its experimental drug SCD-044.
SPARC share price opened at an intraday high of ₹186 apiece on the BSE, and touched an intraday low of ₹156.50 per share.
SCD-044, referred to as Vibozilimod, was being developed for the treatment of psoriasis and atopic dermatitis. Nevertheless, the company announced that the drug did not achieve the primary endpoints in both of its clinical trials. Consequently, SPARC declared that it will halt further clinical development for SCD-044.
Both Sun Pharma and SPARC will now evaluate the…
