Moneycontrol BureauShares of Sun Pharmaceutical Industries gained 1.5 percent intraday Tuesday as it has launched Imatinib Mesylate tablets in the US market.The company's subsidiary has received final approval for Imatinib Mesylate from Food and Drug Administration (FDA) in December 2015.
Imatinib Mesylate tablets is a therapeutic equivalent to Gleevec, which is a cancer drug. Gleevec Generic is a USD 2.2 billion drug and Novartis is the innovator of the same.
"As it is a First-to-File product, it was granted 180 days of marketing exclusivity by FDA from the time of its launch," as per BSE.
This could add up Rs 6 in the EPS of the company during the exclusivity.The company has rolled-out unique Sun Pharma Imatinib Mesylate Savings Card program. This program aims to deliver greater access to the drug for patients who have a commercial insurance but their out-of-pocket may exceed an affordable amount.
In additions, the company has also launched an exclusive patient website www.imatinibrx.com providing detailed information about its Imatinib Mesylate, approved indications, side effects etc.The company also received USFDA approval for Buprenorphine Hydrochloride which is used to treat opioid dependence.The company is going announce its September-December quarter earnings (Q3) on February 12, 2016.At 09:47 hrs Sun Pharmaceutical Industries was quoting at Rs 867.30, down Rs 2.90, or 0.33 percent on the BSE.Posted by Rakesh Patil
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