Sagent Pharmaceuticals sold 5.75 million shares at $16 each, compared to plans to price five million shares at between $14 and $16 per share.

Sagent Pharmaceuticals, a US-based drug company backed by investment bank Morgan Stanley, raised $92m in its Nasdaq flotation after pricing at the top of its expected range.

It sold 5.75 million shares at $16 each, compared to plans to price five million shares at between $14 and $16 per share.

Morgan Stanley co-led the initial public offering (IPO) alongside peers BoA Merrill Lynch and Jefferies.

Morgan Stanley owns 20.8% of Sagent, while in February China-based Zhejiang Hisun Pharmaceutical…