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Shares of two largecap pharmaceutical industries companies - Sun Pharmaceutical Industries and Zydus Lifesciences - are in investors or traders focus following corporate updates. At the last count (12:30 pm), Zydus Lifescience's shares surge as much as 1.65 per cent, with touching an intraday high of Rs 941.75 (NSE), on Tuesday's session. On the other side, Sun Pharma shares decreased up to 1.10 per cent, in the morning session of the day.

Sun Pharma has announced that the discontinuation of its Phase II clinical trials for SCD-044, an investigational oral S1P receptor 1 agonist aimed at treating moderate to severe psoriasis. The decision follows the trial's failure to meet its primary endpoint at the 16-week mark.

Analysts at SBI Securities have termed the development as negative for the short term, citing the setback in the company’s research pipeline.

Zydus Lifesciences revealed plans to acquire two biologics manufacturing facilities in the United States from Agenus Inc for an upfront payment of $75 million.

Moreover, the drug maker firm has secured exclusive licensing rights for Agenus’s next-generation immuno-oncology assets, Botensilimab and Balstilimab.

SBI Securities has a positive outlook on the acquisition for medium to long term, highlighting the strategic expansion of the company's biologics and oncology portfolio.

(Disclaimer: The views/suggestions/recommendations expressed here in this article are solely by investment experts. Zee Business suggests its readers consult their investment advisers before making any financial decision.)

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