Sun Pharma is making a joint venture with Merck & Co to develop, manufacture and sell new combination and versions of branded generics in emerging markets. Under this joint venture, the parent company, Sun Pharma said that a research-oriented listed company, SPARC will contribute its technology for the Joint Venture (JV) wherever necessary. Sun Pharma has gathered 16% to Rs 91.

Dilip Shanghvi, chairman and managing director of the SPARC said that for contributing its services to the joint venture, the company will get upfront and milestone payments.

It is expected that this joint venture will drive 90% of the world's pharmaceutical growth, with 75% of that growth will come from sales of brand-name generics.

For the fiscal year ended March 31, 2010, Sun Pharma Advanced Research had reported a net loss of 215.5 million rupees and income of 344.1 million. The company is pending to report the results of fiscal year ended March 31, 2011.

There was ten folds jump in the trading volumes on the counter with 4.46 million shares changing hands against an average of less than 400,000 shares traded daily in past two weeks.