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Shilpa Medicare gains on launching generic anticancer drug

Health Medical Pharma

Capital Market 

Shilpa Medicare rose 1.38% to Rs 400 after the company said it has launched its generic version of cancer drug Dasatinib at a monthly therapy cost of Rs 6,440.

The drug substance patent on Dasatinib was owned by Bristol-Myers-Squibb. The patent expired on 12 April 2020.

Shilpa Medicare has launched the Indian branded generic named, 'Dasashil'. It is first branded generic anticancer drug with all dosage strength 20/50/70/100 mg tablets, which is used for the treatment of Chronic Myeloid Leukaemia (CML).

Current, monthly therapy cost of innovator is approximately 1.65 lakh, with the launch of Dasashil monthly cost of treatment will be reduced drastically to Rs 6440 as monthly therapy cost. There are around 10,000 to 15,000 new patients of CML in India, which can be benefited by Dasashil tablets.

Dasashil is being manufactured and supplied from the USFDA-approved manufacturing facility, the drug maker said.

Shilpa Medicare's consolidated net profit surged 248.7% to Rs 55.06 crore on a 36.6% jump in net sales to Rs 236.85 crore in Q3 December 2019 over Q3 December 2018.

Shilpa Medicare is engaged in the business of manufacturing of bulk drugs or active pharmaceutical ingredient (API) and intermediates.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, April 24 2020. 11:30 IST