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 numbersUS 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. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
