Sun Pharma surges; unit Taro beats July-Sept analysts' estimates

Source : REUTERS
Last Updated: Wed, Nov 13, 2013 04:44 hrs
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Sun Pharmaceuticals Industries Ltd gains 3 percent after its unit Taro Pharmaceutical Industries Ltd operational earnings beat some analysts estimates.

Taro's quarterly earnings per share came at $2.15 while sales rose 27.5 percent to $205.3 million.

Analysts say a price hike in certain product categories by Taro led to the operating earnings beat while also boosting outlook for Sun Pharmaceutical's earnings results later in the day.

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