Sun Pharma Shares Rise After FDA Approval For Cancer Drug

The firm, which is headquartered in Mumbai released a statement saying that its subsidiary has received the green light for US Food and Drug Administration for its Doxorubicin HCI Liposome Injection.  

“This generic Doxorubicin HCl Liposome injection USP, 2 mg/ml is therapeutically equivalent to Doxil Liposome Injection, 2 mg/ml of Janssen Research and Development, LLC,” the company said.

Doxorubicin HCl liposome injection is used to treat patients with ovarian cancer, which has progressed or recurred after platinum-based chemotherapy.

Reacting to the development, shares of Sun Pharma were trading at Rs 745.70 on the BSE in afternoon trade, up 3.84 percent from their previous close.