Sun Pharma Gets FDA Approval for Generic of Novartis' Gleevec
- Novartis drew $4.7 billion in sales from Gleevec in 2014
- Sun to launch generic Gleevec in the U.S. on February 1
This article is for subscribers only.
Sun Pharmaceutical Industries Ltd., India’s largest drugmaker, said it received approval from the U.S. Food and Drug Administration to make a generic version of Novartis AG’s cancer drug Gleevec.
Sun was the first to file its application to make a generic version of the pill, making it eligible for six months of marketing exclusivity in the U.S., the company said in an e-mailed statement today. Sun’s shares jumped 3.9 percent to 754.95 rupees at 11:17 a.m. local time, set for the highest level in almost a month.