Sun Pharmaceutical shares gain on US nod for cancer drug 'Doxil'
Reuters : Wed Feb 06 2013, 10:51 hrs
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Sun Pharmaceutical Industries Ltd shares rose as much as 4.5 percent after the U.S. Food and Drug Administration approved its generic version of ovarian cancer drug Doxil made by Johnson & Johnson in the U.S. market.
* "Doxil generic approval came in as a positive surprise. This would add US$70-$100m in high margin sales for FY14 until further generic competition comes in," CLSA said in a note on Tuesday.
* Shares in the drugmaker also gained after subsidiary Taro Pharmaceutical Industries Ltd posted a 42 percent growth in October-December net profit.
* Sun Pharma shares were up 3.7 percent as of 0631 GMT
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