Shares of Sun Pharma Advanced Research Company (SPARC) surged 20 percent on December 2, hitting the upper circuit at ₹161.02 per share — their highest level since late July this year. The rally followed a favorable ruling by a U.S. district court regarding the company’s neonatal seizure injection, Sezaby.

Court Ruling in Favor of SPARC

In an exchange filing, SPARC announced that the U.S. District Court for the District of Columbia granted summary judgment in its favor concerning a Priority Review Voucher (PRV) linked to Sezaby’s approval. The court held that the U.S. FDA’s withholding of the voucher was “contrary to law,” stating that no previously approved drug product containing phenobarbital sodium existed under the statute. The ruling allows 60 days for an appeal.

“We are pleased with the ruling issued today by the U.S. District Court, as it validates SPARC’s long-held position on this matter,” said SPARC CEO Anil Raghavan.

About Sezaby

Sezaby is a benzyl alcohol- and propylene glycol-free formulation of phenobarbital sodium powder for injection. It was approved by the U.S. FDA for the treatment of neonatal seizures.

Trading Activity and Recent Performance

The sharp price movement was accompanied by exceptionally high trading volumes. Nearly 2.6 crore shares changed hands during the session — roughly 117 times the stock’s 10-day average volume. While the stock is currently trading above its 200-day moving average, it has declined nearly 19 percent over the past six months and is down around 20 percent year-to-date in 2025.