Sun Pharmaceutical has moved up on news that its US arm Caraco has launched oxaliplatin injections in the American market. The stock is trading at Rs 1658, higher by Rs 3 or 0.2%, on the BSE. The shares had opened at Rs 1660, which also happened to be the day's high, and have touched a high of Rs 1650 thus far.
These oxaliplatin injections have been introduced in 50 mg and 100 mg strength after approval from US Food and Drug Administration, Caraco said in a statement.
Oxaliplatin is an anticancer used in the treatment of colon and rectal cancer. These injections have annual sales of about $1.3 billion in America.
Detroit-based Caraco Pharmaceutical Laboratories develops, manufactures, and markets generic drugs to wholesalers, distributors and drugstore chains.
