SPARC Surges 8% as it Licenses Xelpros to Sun Pharma

Sun Pharma Advanced Reseasrch Company (SPARC) shares gained as much as 8 per cent to an intraday high of Rs 438.35 after the drug research firm said it has licensed out Xelpros to a subsidiary of Sun Pharma for the US market. Xelpros is a preservative-free eye drop used in the treatment glaucoma.   SPARC will get an upfront payment of $3 million and other milestone payments totalling $16 million from Sun Pharma under the licence agre...