Sun Pharma Advanced Research Company Ltd (SPARC) gained 2.5% on the Bombay Stock Exchange (BSE) at Rs 165 after the company announced that its licensee has received an approval from the Drug Controller General of India for a drug used in treatment of breast cancer.
In a press release to the exchanges, the company announced that the company has received an approval for Paclitaxel Injection Concentrate for Nanodispersion (PICN), indicated for the treatment of metastatic breast cancer.
PICN is a novel formulation of Paclitaxel using SPARC's proprietary Nanotecton platform technology and is a Cremophor and Albumin-free formulation. It offers the convenience of a quick and easy one-step dilution and infusion preparation for healthcare professionals. PICN can be administered in a short 30 minute infusion and unlike conventional Paclitaxel formulations it does not require premedication with steroids and anti-histamines and does not lead to any significant hypersensitivity reaction in patients.
SPARC has licensed Sun Pharmaceutical Industries (SPIL) or its assignee to manufacture, promote and distribute PICN in the Indian market. As a part of the arrangement, SPARC is eligible for milestone and royalty income, the company said in a statement.
Thus far, the stock has hit a high of Rs 167.9 and touched a low of Rs 162. A combined 1.3 million shares changed hands on the BSE and NSE counters.
In a press release to the exchanges, the company announced that the company has received an approval for Paclitaxel Injection Concentrate for Nanodispersion (PICN), indicated for the treatment of metastatic breast cancer.
PICN is a novel formulation of Paclitaxel using SPARC's proprietary Nanotecton platform technology and is a Cremophor and Albumin-free formulation. It offers the convenience of a quick and easy one-step dilution and infusion preparation for healthcare professionals. PICN can be administered in a short 30 minute infusion and unlike conventional Paclitaxel formulations it does not require premedication with steroids and anti-histamines and does not lead to any significant hypersensitivity reaction in patients.
SPARC has licensed Sun Pharmaceutical Industries (SPIL) or its assignee to manufacture, promote and distribute PICN in the Indian market. As a part of the arrangement, SPARC is eligible for milestone and royalty income, the company said in a statement.
Thus far, the stock has hit a high of Rs 167.9 and touched a low of Rs 162. A combined 1.3 million shares changed hands on the BSE and NSE counters.
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