Sun Pharma shares rise over 6% after USFDA accepts new drug application

A man carrying a gas cylinder walks out of the research and development centre of Sun Pharmaceutical Industries in Mumbai. Photo: Reuters
Shares of Sun Pharma surged 6.12 per cent today after the US health regulator accepted a new drug application (NDA) for dry eye solution filed by the company's wholly-owned subsidiary.

The stock closed at 6.12 per cent to Rs 573.50 on BSE.

"The US Food and Drug Administration (USFDA) has accepted an NDA, filed by its wholly-owned subsidiary, for OTX-101 (cyclosporine A, ophthalmic solution)," Sun Pharmaceutical Industries said in a BSE filing today.

OTX-101 is now under review for approval by the USFDA, marking an important developmental milestone for Sun Pharma's dry eye candidate, it added.

Sun Pharma MD Dilip Shanghvi said: "OTX-101, a novel formulation of cyclosporine, will allow us to participate in the rapidly growing under-served and dynamic dry eye market. When approved, it will be a milestone for millions of dry eye patients across the globe that are yet to find relief for their condition.