May 4 (Reuters) - India’s Sun Pharmaceutical Industries Ltd on Wednesday said its unit had received approval from the U.S. Food and Drug Administration for its cancer treatment Docefrez injection, sending the unit’s shares up 3 percent.
The drug, chemically known as docetaxel, is used to treat breast cancer, lung cancer and prostate cancer, Sun said in a statement.
“This product could potentially give the company over $50 million over a year,” said Bino Pathiparampil, vice president at IIFL Capital. “We had been expecting the approval in January-February. This is good news for the stock,” he said, referring to shares in Sun’s unit, Sun Pharma Advanced Research Co Ltd .
