Sun Pharma shares surge 6.5% on drug approval from USFDA

Sun Pharmaceutical shares surged by 6.5 per cent today after one of its subsidiaries received USFDA approval to manufacture and market generic version of Novartis' Gleevec, used in treatment of cancer, in America.
The stock climbed 6.34 per cent to Rs 773 on BSE.
At NSE, the scrip gained 6.46 per cent to Rs 773.90.
The stock was the top gainer among the Sensex and Nifty indices during morning trade.
"One of its subsidiaries has received final approval from US FDA for its Abbreviated New Drug Application (ANDA) for generic version of Gleevec, Imatinib Mesylate tablets," Sun Pharmaceutical said in a BSE filing.

"The approval has been granted for Imatinib Mesylate tablets of 100 mg and 400 mg strengths. Imatinib Mesylate tablets, 100 mg and 400 mg, are therapeutic equivalents of Novartis' Gleevec tablets," it added.
In the broader market, the benchmark BSE Sensex was trading lower by 186.44 points at 25,693.99 during afternoon session.