India's Sun Pharma launches hair loss drug Leqselvi in US after patent settlement

By Rishika Sadam

July 14 (Reuters) - India's top drugmaker by revenue Sun Pharma SUN.NS on Monday launched its anti-baldness drug Leqselvi in the U.S., following the settlement of a patent dispute with Incyte Corp INCY.O.

The company said 8 mg Leqselvi tablets for severe alopecia areata will be available in the U.S., after a launch delay caused by a patent infringement case in a U.S. court.

Shrikant Akolkar, analyst at Nuvama Institutional Equities, said the drug could generate up to $400 million in sales by FY30, with peak sales potential of $900 million, and boost growth in Sun's key U.S. market.

"This settlement is very positive and there is no overhang of any legal dispute anymore. The drug has very good clinical data and with this launch, Sun Pharma's commercial portfolio broadens further," he said.

India's drugmakers have been grappling with pricing pressure and stiff competition in the U.S.

The company said the drug's addition to its dermatology portfolio is a "key milestone", as it focuses on new therapy areas.

Alopecia areata is an autoimmune disease that causes patchy hair loss on the scalp and other areas of the body.