Sun Pharmaceutical Industries Ltd. (SUNP), has received the approval by the U.S FDA for the company's generic version of Johnson & Johnson (JNJ)'s cancer drug Doxil.
The U.S. Food & Drug Administration has permitted the sales of Sun Pharma's version of the drug to help with the treatment of patients with ovarian cancer that has progressed or recurred.
According to statistics, a revenue of nearly $402 million has already been generated for J&J in 2011 .
Market analysts have said that this is a very important approval for Sun Pharma. Indeed, it is the first generic player to get an approval for this drug. It is also expected to enjoy exclusivity for the ensuing months.