Dr Reddy’s gets USFDA nod for sale of ovarian cancer drug, stocks rise 0.7%
Dr Reddy’s can sell its generic version of Alza Corporation’s Doxil injection, which has a market of about $196 million.business Updated: May 17, 2017 15:07 IST
Dr Reddy’s Laboratories (DRL) has received approval from the United States health regulator USFDA to sell a generic version of a drug to cure ovarian cancer of women, the company said on Wednesday, helping its shares to gain as much as 0.74% in intra-day trade.
The new drug is a generic version of Alza Corporation’s Doxil injection used for treatment of ovarian cancer and has a market size of $196 million, DRL said citing IMS Health data.
The approval from the US Food and Drug Administration (USFDA) for doxorubicin hydrochloride liposome intravenous injection is an outcome of extensive collaboration with the company’s partner Natco Pharma on research and development and manufacturing capabilities, Dr Reddy’s said in a BSE filing.
The injection comes in single dose vials of 10 ml or 30 ml, it added.
DRL Executive Vice-President and Head of North American Generics Business Alok Sonig said it is the first of its kind for the company. “We are preparing for a commercial launch soon.”
Shares of DRL were trading at Rs 2,743.20 apiece in the afternoon trade, up 0.74%, from the previous close on the BSE.
(With inputs from PTI)