Shasun Pharma hits the roof

Shasun Pharma, which was in the limelight yesterday, is up in the green today too. The stock hit a new high at Rs.150, up 10% thus hitting the upper circuit filter.

The stock has hit the roof on the back of good news that it has acquired the global rights to develop and commercialise the 12-hour extended release analgesic tablet Ibuprofen from US-based ScolorPharma along with those of pain killer Nuprin trademark for an undisclosed sum. The company has stated that the acquisition also includes the controlled release technology of Ibuprofen 12-hour extended release OTC.