Sun Pharmaceutical Industries Ltd said it received an abbreviated new drug application (ANDA) approval from the US Food and Drug Administration (USFDA) to market a generic version of Optivar, azelastine ophthalmic solution, 0.05%, in the US.
This sterile azelastine hydrochloride ophthalmic solution is therapeutically equivalent to Optivar Ophthalmic Solution 0.05% from Medpointe Pharmaceuticals and has annual sales of about $50 million in the US.
Azelastine is used for the treatment of the itching of the eyes associated with allergic conjunctivitis.
On Tuesday, Sun Pharma shares ended 0.3% up at Rs1,758 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.7% down at 17,749 points.
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