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Onco Therapies Ltd (OTL), the wholly owned oncology (cancer drugs) subsidiary of Strides, has got European Union approval for its Oxaliplatin Injection 5 mg/ ml.
The company in a release to exchanges said “This is the second European approval out of the 22 filings made by OTL in 2010 for products that have a combined market value of over $5 billion.”
The application for Oxaliplatin 5 mg/ ml was submitted through a decentralised procedure.
Oxaliplatin is amongst 37 drugs licensed to Pfizer on a semi-exclusive basis for sales in 17 European countries. As per the latest data available from IMS, the combined European market for Oxaliplatin stood at $312 million with four major players in the market.
“The current approval is from UK and approval for the rest of the European countries is expected shortly. The product will be manufactured at the oncology complex in Bangalore,” the company release said.
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