Sun Pharma gains on US nod for cancer drug

Shares in Sun Pharmaceutical Industries Ltd rose as much as 4.5 percent after the US Food and Drug Administration approved its generic version of ovarian cancer drug Doxil made by Johnson & Johnson in the US market.

February 05, 2013 / 14:50 IST

Shares in Sun Pharmaceutical Industries Ltd rose as much as 4.5 percent after the US Food and Drug Administration approved its generic version of ovarian cancer drug Doxil made by Johnson & Johnson in the US market.

"Doxil generic approval came in as a positive surprise. This would add USD70-USD 100m in high margin sales for FY14 until further generic competition comes in," CLSA said in a note on Tuesday.

Shares in the drugmaker also gained after subsidiary Taro Pharmaceutical Industries Ltd posted a 42 percent growth in October-December net profit.

Sun Pharma surges 4% after Taro's excellent Q3 numbers

US exports may drive top Indian pharma cos to grow in 2013

Sun Pharma shares were up 3.5 percent as of 12:28 p.m.

first published: Feb 5, 2013 02:32 pm

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Sun Pharma gains on US nod for cancer drug

Shares in Sun Pharmaceutical Industries Ltd rose as much as 4.5 percent after the US Food and Drug Administration approved its generic version of ovarian cancer drug Doxil made by Johnson & Johnson in the US market.

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