Sun Pharmaceutical Industries has got the US FDA approval to launch a generic version of Sanofi-Aventis’ cancer drug Eloxatin and sumatriptan succinate tablets, the generic version of GlaxoSmithKline’s Imitrex tablets to treat migraine – reported Reuters.
Sun Pharma has said that oxaliplatin injections, which are used for treating colon and rectal cancer, has annual sales of about $2.3 billion in the US. Reportedly, Sun Pharma is going to share a 180-day marketing exclusivity for the drug with four other generic manufacturers.
According to Nomura Financial, the company would generate as much as $75 million in revenues and realise $64 million in net profit, if it launches the generic version during the exclusivity period.
Analysts opine that the regulatory approval is a huge boost to Sun Pharma, whose earnings had been nosedived due to the recent seizure of its unit’s (Caraco Pharmaceutical Laboratories) medicines by the US FDA for violating manufacturing standards, reported the news agency.