July 19, 2010 8:44 AM EDT
Shares of Sun Pharmaceuticals & Industries underperformed the broader market and was the biggest loser on NSE index after the company said a US district court had denied its motion to reverse a jury verdict of infringment against Pfizer's generic Protonix.
Litigation damage could be up to $300 million, RBS said in a note retaining its "sell" rating and a price target of 1,410 rupees per share.
Separately, Morgan Stanley said Sun Pharmaceuticals may face liability as much as profits, expected around $250-270 million, generated from the sales of Protonix until its recent withdrawal from the market.
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