 "Sun Pharma stock up on US court's ruling")
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Sun Pharmaceutical Industries rose 2.4 percent after the US Supreme Court allowed the Indian drug maker to sue a brand name rival in a bid to develop a generic diabetes drug for the US market.
Caraco Pharmaceuticals, a unit of Sun, had argued the patent description for Prandin, a diabetes drug developed by Denmark’s Novo Nordisk, was too broad, and effectively prevented generic versions to hit the market.
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Analysts say that Sun Pharma is now more likely to be able to launch a generic version of Prandin, probably by fiscal 2013.
Reuters