Bangalore: Sun Pharmaceutical Industries Ltd on Wednesday said its unit had received approval from the US Food and Drug Administration (FDA) for its cancer treatment Docefrez injection, sending the unit’s shares up 3%.
The drug, chemically known as docetaxel, is used to treat breast cancer, lung cancer and prostate cancer, Sun said in a statement.
“This product could potentially give the company over $50 million over a year,” said Bino Pathiparampil, vice president at IIFL Capital. “We had been expecting the approval in January-February. This is good news for the stock,” he said, referring to shares in Sun’s unit, Sun Pharma Advanced Research Co Ltd .
Earlier this year, the FDA gave approval to US drug maker Hospira Inc to sell docetaxel, which is a generic version of Sanofi-Aventis’ Taxotere.