Sun Pharmaceuticals Ltd, India's biggest drugmaker, gained Friday after its Israel unit Taro posted strong earnings for the first quarter.
Thursday, Taro said that its first quarter profit surged 125% to $103.6 million in the June quarter from $46 million in the same period a year ago.
Revenues in the quarter surged 65% to $215 million compared to 130.2 million in the same period a year ago.
However, sales volumes declined 10% as a result of increase in competitor activity in United States.
Parent Sun Pharma will unveil its first quarter earnings on Aug 11.
At 11PM, shares of Sun Pharma gained 0.77% to Rs 853 on the Mumbai stock exchange.
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