Despite winning an alopecia areata approval for its drug Leqselvi in July, Sun Pharma will have to wait a while longer to launch its JAK inhibitor competitor to Eli Lilly and Incyte’s Olumiant and | Sun Pharma,

Incyte filed a lawsuit to try to block the launch of Leqselvi, claiming that the drug infringed a US patent (No. 9,662,335) it holds on the use of ruxolitinib, a JAK inhibitor it sells as Jakafi to treat various haematological cancers and in a topical form as Opzelura for atopic dermatitis and vitiligo.

After a US Court blocked the launch of Leqselvi, a drug used to treat severe alopecia areata, shares of Sun Pharma plunged over 5 per cent on Monday, November 04. Read on to know what UBS and JPMorgan said on the situation.

Shares of Sun Pharmaceuticals fell by 3.62% in an early trading session to Rs 1,791.15 on BSE after the firm announced on Saturday that the US District Court of New Jersey has granted a preliminary injunction preventing it from launching its new drug,

Thirty out of the 41 analysts tracking the company have a 'buy' rating on the stock, seven suggest a 'hold' and four have a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 13%.

Sun Pharma faces a delay in the U.S. launch of its drug Leqselvi due to a preliminary injunction by the New Jersey court, pending further legal proceedings or patent expiration in December 2026. The company plans to appeal the decision while considering a potential settlement with Incyte.