Companies

Strides gets EU nod to market ovarian cancer drug

PTI New Delhi | Updated on March 04, 2011

Pharmaceutical firm Strides Arcolab on Friday said that it has received approval from the European Union (EU) to sell generic Carboplatin used in the treatment of ovarian cancer.

Onco Therapies Ltd (OTL), the company’s wholly-owned oncology subsidiary, has received approval from EU for Carboplatin in the strength of 10 mg/ml in select European Union countries.

“This is the first European approval out of the 22 filings made by OTL in the year 2010 for products, which have a combined market value of over $5 billion” it added.

Strides said the application for the approval was made through a Decentralized Procedure (DCP). More filings will be made to cover remaining EU countries and approvals from all the countries are expected during 2011, it added.

The product will be manufactured at Stride’s oncology complex in Bangalore, which received approval from the European regulatory authorities in June 2010, it added.

The company said that as per the latest data available from IMS, the combined European market for Carboplatin stood at $138 million.

“Carboplatin is amongst 37 drugs licensed to Pfizer on a semi-exclusive basis for sales in 17 European countries,” it added.

Shares of Strides Arcolab were today trading at Rs 375.25 in the afternoon trade on Bombay Stock Exchange, up 4.50 per cent from its previous close.

Published on March 04, 2011

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