Sun Pharma Shares Up 2% on US Patent Settlement for Leqselvi Launch

arma's share price climbed 2% to Rs 1,711 on Tuesday, marking a third consecutive session of gains, following a patent settlement with Incyte Corporation. The agreement paves the way for the immediate US launch of LEQSELVI (deuruxolitinib), a treatment for severe alopecia areata. The settlement includes an upfront payment and ongoing royalties from Sun Pharma, with both parties seeking to dismiss related litigation in the US District Court for New Jersey. Morgan Stanley reiterated its 'Overweight' rating on Sun Pharma, setting a target price of Rs 1,960, suggesting a 16.4% upside from the previous close of Rs 1,683. The brokerage forecasts LEQSELVI sales of $61 million in FY26 and $83 million in FY27, bolstered by the drug’s non-oncology license for alopecia areata. Despite a 19% drop in Q4 FY25 net profit to Rs 2,153.9 crore, the settlement and upcoming US launch have fueled investor optimism.