Sun Pharma shares hit 52-week high after USFDA approval for Alopecia treatment drug

In a filing to the stock exchanges, the pharmaceutical company said that the US drug regulator has approved LEQSELVI (deuruxolitinib) 8 mg tablets for the treatment of adults with severe alopecia areata.

The drug is an Oral JAK Inhibitor for the treatment of severe alopecia areata, the company informed the stock exchanges.

Alopecia areata is an autoimmune condition that leads to hair loss, and it affects a significant portion of the population in the United States.

Alopecia areata affects approximately 7,00,000 people in the United States. This includes individuals with varying degrees of hair loss, from small patches to complete loss of hair. Among those affected, around 3,00,000 individuals experience severe alopecia areata, the company said in a release.

Abhay Gandhi, CEO of North America Business at Sun Pharma, said that LEQSELVI offers a new and effective solution that will significantly enhance options for long-suffering patients battling severe alopecia areata and their physicians.

The introduction of LEQSELVI is expected to significantly improve the treatment options available for patients with severe alopecia areata. This can provide hope and potential solutions for those struggling with existing treatments, the company said.

LEQSELVI represents an innovative approach in the treatment of severe alopecia areata by targeting the JAK1 and JAK2 pathways that contribute to the autoimmune response responsible for hair loss. Its twice-daily oral administration makes it a convenient option for patients, and its selective mechanism offers a promising alternative to existing treatments. As with any new treatment, its success will depend on robust clinical evidence and patient outcomes, the company added.

Sun Pharmaceuticals shares rallied as much as 1.78% to hit an all-time high of ₹1695.55 apiece on NSE, extending gains for the fifth straight day. The pharma stock has gained over 7.17% return in the last five days.