Sun Pharmaceutical Industries announced that one of its wholly owned subsidiaries has launched in US, the Authorized Generic (AG) version for Daiichi Sankyo Inc.'s Welchol (colesevelam hydrochloride) 625mg tablets.

The launch is pursuant to a distribution and supply agreement between Sun Pharma's wholly owned subsidiary and Daiichi Sankyo Inc., which grants the Sun Pharma subsidiary, exclusive rights to distribute these tablets in the US for a pre-determined period. Welchol Tablets recorded US sales of approximately USD 520 million for the 12 months ending March 2018, as per IQVIA.

Shares of the company gained Rs 11.35, or 2.41%, to trade at Rs 483.20. The total volume of shares traded was 82,747 at the BSE (9.37 a.m., Friday).