Pharmaceutical firm Jubilant Organosys today said its American arm has got a nod from the USFDA to market the generic drug Sestamibi in the US.DRAXIMAGE LLC, the US subsidiary of BSE-listed Jubilant, received approval from the US Food and Drug Administration (FDA) for it's Abbreviated New Drug Application (ANDA) for DRAXIMAGEs generic Sestamibi, Jubilant said in a press release.
Sestamibi is used in Myocardial Perfusion Imaging (MPI), which evaluates the flow of blood to the heart.The MPI market size is currently estimated at $400 million.
"We are ready to launch DRAXIMAGE Sestamibi in the market and will see a steady flow of revenues from this product from Q1 FY10," Jubilant Organosys Chairman Shyam Bhartia said."As we are the second generic player in the market and there is very limited competition, we expect moderate price erosion for this product, he said.
Jubilant, through its US subsidiary, has an exclusive distribution agreement with GE Healthcare to distribute and sell DRAXIMAGEs generic Sestamibi in the US.GE Healthcare has a very strong network of nuclear pharmacies across the US with a considerable market share in the MPI segment.
