Sun Pharma rises as USFDA approves Infugem injection
Sun Pharmaceutical Industries including its subsidiaries and/or associate companies have received approval from the US Food and Drug Administration (USFDA) for Infugem (gemcitabine in 0.9 per cent sodium chloride injection) 10 mg/mL, for intravenous use in a ready-to-administer (RTA) bag.
This is the first USFDA approval for a product from Sun Pharma’s Halol facility post the receipt of Establishment Inspection Report (EIR) in June 2018.
Infugem uses a proprietary technology which allows cytotoxic oncology products to be premixed in a sterile environment and supplied to the prescribers in RTA infusion bags.
The addressable market size for this product is approximately US$35 million for the 12 months ending March 2018, as per IQVIA.
The promoters holding in the company stood at 54.38 per cent, while Institutions and Non-Institutions held 32.55 and 13.07 per cent, respectively.
Sun Pharmaceutical is engaged in the business of manufacturing pharmaceuticals, medicinal chemical and botanical products.
On Wednesday, the stock has opened at Rs. 555 per share and touched a high/low of Rs. 559/Rs. 544 and the stock has closed at Rs. 549.55, up by 0.14 per cent on BSE.