CORRECTED - Sun Pharma gains on U.S. FDA approval of bone drug

(In Feb 19 story, corrects name of drug to Boniva from Bovina in second and third bullet points)

Reuters Market Eye - Shares in Sun Pharmaceutical Industries Ltd gain after the company got U.S. Food and Drug Administration approval to sell a drug to treat osteoporosis, a bone-weakening disease.

Currently the drug, Ibandronate Sodium, is marketed by Roche under the brand name Boniva.

"Boniva generated an annual sales of $82 million in 2012. Currently, Sun Pharma is the only generic player to have final approval for this product," brokerage Sharekhan said in a note on Wednesday.

More players would be able to sell the drug after its patent expiry on September 2, 2014, Sharekhan said.

 

(Reporting by Abhishek Vishnoi)