Strides Arcolab surges 3% on US FDA nod for Topotecan

Pharmaceutical company Strides Arcolab gained 3% intraday on Wednesday as its wholly owned subsidiary Onco Therapies has received ANDA (abbreviated new drug application) approval from the US FDA for Topotecan Hydrochloride injection 4 mg (base), packaged in single dose vials.

Topotecan is a chemotherapy drug usually given to treat ovarian cancer, small-cell lung cancer and advanced cervical cancer. According to IMS data, the US market for generic Topotecan is approximately USD 51 million.

In a release sent to exchanges, the company said, "Topotecan is a part of the Oncology portfolio licensed to Pfizer for the US market and the product is available for immediate launch."

At 12:02 hours IST, the share was trading at Rs 852.15, up 2.34% with volumes of 42,954 equity shares.

Market capitalisation of the company currently stands at Rs 5,001.82 crore.