Sun Pharmaceutical Industries Ltd, India’s biggest drugmaker by market value, has got approval to sell its generic version of Novartis AG’s Exelon, in the US market with limited competition for six months, the drug maker said in a statement. Exelon is used to treat dementia.
The company has been allowed to sell capsules of rivastigmine tartrate, or generic Exelon, in four strengths. These dosages of Exelon have sales of about $200 million a year in the US, the company said.
Sun Pharma’s shares rose Rs27.80 , or 2.8%, to Rs1,007.50 on the Bombay Stock Exchange. The stock has gained 11% this year.