Sun Pharma soars as US FDA clears its generic cholesterol drug `Zetia’
13 Jun 2017
Sun Pharmaceutical shares surged over 3 per cent in early trade today after the country's largest drugmaker said it has got final approval from the USFDA for launching in the US a generic version of the anti-cholesterol medicine Zetia tablets.
Sun Pharma shares were trading at Rs540 on the BSE, up 1.35 per cent after rising to a high of Rs551.40. The Sun Pharmaceutical scrip rose 1.6 per cent on Monday as well following the announcement of a reduction in GST rates for insulin.
Earlier, Sun Pharma said that one of its wholly-owned subsidiaries has received final approval from USFDA for its Abbreviated New Drug Application (ANDA) for a generic version of Zetia (ezetimibe) tablets. These generic ezetimibe tablets are therapeutic equivalents of Merck's Zetia tablets. Zetia is an anti-cholesterol drug and reportedly had annual sales of approximately $2.7 billion in the US for the 12 months ended April 2017.
Sun Pharma today announced that the US FDA has granted approval to one of its wholly-oned subsidiaries for its Abbreviated New Drug Application (ANDA) for generic version of `Zetia' (ezetimibe) tablets 10 mg.
These generic ezetimibe tablets are therapeutic equivalents of Merck's Zetia tablets. As per IMS, ezetimibe tablets had annual sales of approximately $2.7 billion in the US for the 12 months ended April 2017.
Sun Pharma is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company. With vertically integrated business, economies of scale and an extremely skilled team the company delivers quality products at affordable prices to customers and patients in over 150 countries across the world.
Sun Pharma's global presence is supported by 42 manufacturing facilities spread across 6 continents, R&D centres across the globe and a multi-cultural workforce comprising over 50 nationalities.
