Sun Pharma hits a new high

Sun Pharma hit a new 52-week high today at Rs.1111 though it has since then pulled off from these levels and is currently at Rs.1104, just about holding onto the green.

The stock hit a high after it announced that it has received final approval from the United States Food and Drug Administration (FDA) to launch the generic version of Novo Nordisk's Prandin diabetes drug. The company would be eligible for a 180-day marketing exclusivity in the United States for the drug.