Glenmark Pharmaceuticals, Aurobindo Pharma and Sun Pharma shares gained on Wednesday on getting USFDA approval for generic version of Crestor in the US.
Cheering the development, shares of Sun Pharma, Glenmark Pharmaceuticals and Aurobindo Pharma jumped as much as 1.55 per cent, 2.80 per cent and 4.43 per cent, respectively, on Wednesday.
The announcement came after a US judge reportedly denied to issue a temporary restraining order blocking the approval of new generic versions of AstraZeneca’s drug Crestor in the United States.
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In a BSE filing, Glenmark Pharmceuticals said, “Glenmark Pharmaceuticals Inc. USA (Glenmark) has been granted final approval by the USFDA for Rosuvastatin Calcium Tablets, the gernic version of Crestor Tablets.”
Rosuvastatin Calcium Tablets achieved annual sales of approximately $6.78 billion for the 12 month period ended May 2016, according to IMS Health sales data.
Similar type of announcements were made by Sun Pharma and Aurobindo Pharma in the morning trade.
The BSE Healthcare index was trading 1.34 per cent up at 16,284.17. Other pharma majors such as Pirmal Enterprises and Caila Healthcare gained as much as 6.10 per cent and 4.30 per cent, respectively, on Wednesday.