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Pharma company Strides Arcolab’s unit Onco Therapies has received US Food and Drugs Administration (FDA) approval for Paclitaxel injection used to treat ovarian cancer, breast cancer and non-small cell lung cancer.
Pharma company Strides Arcolab ’s unit Onco Therapies has received US Food and Drugs Administration (FDA) approval for Paclitaxel injection used to treat ovarian cancer, breast cancer and non-small cell lung cancer.
Onco Therapies also received tentative approval for Oxaliplatin injection, another chemotherapy drug used to treat cancer of the colon and rectum, Strides Arcolab said Friday.
Paclitaxel is among the products in the drug shortage list of the American Society of Health System Pharmacists and the US FDA, and the company will launch the product immediately, it said.
The US market for generic Paclitaxel is about USD 46 million, while Oxaliplatin injection has a US market of USD 1.4 billion, Strides Arcolab said citing IMS Health data.
Both Paclitaxel and Oxaliplatin are part of Strides Arcolab’s oncologIs y drugs portfolio licensed to Pfizer for the US market, it said.
Global Pharma major Pfizer had entered into an agreement in 2010 to sell Strides Arcolab’s cancer treatment drugs in the US.
Strides Arcolab shares were traded up 0.6% at Rs 356.95 on NSE in morning trade on Friday.
Strides Arcolab stock price
On March 11, 2014, Strides Arcolab closed at Rs 372.45, up Rs 0.35, or 0.09 percent. The 52-week high of the share was Rs 1050.00 and the 52-week low was Rs 343.80.
The company's trailing 12-month (TTM) EPS was at Rs 597.86 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 0.62. The latest book value of the company is Rs 828.22 per share. At current value, the price-to-book value of the company is 0.45.
READ MORE ON Strides Arcolab, Onco Therapies, FDA, Paclitaxel, injection, approval, cancer, Oxaliplatin, Pfizer, US market
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