New Delhi: Bangalore-based drug firm Strides Arcolab on Friday said its subsidiary Onco Therapies received the US drug regulator's nod to sell cancer medicine Methotrexate Injection in the American market.
Onco Therapies Ltd, a wholly owned subsidiary of Strides Arcolab, has received approval from the US Food and Drug Administration (USFDA) for Methotrexate Injection USP, Strides Arcolab said in a statement.
The company has received the approval for the drug in several strengths, it added.
The company said Methotrexate is amongst the products in the drug shortage list of the USFDA. According to IMS Health data, the US market for generic Methotrexate is nearly USD 13 million, it added.
"Methotrexate is part of the oncology portfolio licensed to Pfizer in January 2010 for the US market and expected to be launched shortly," it said.
A chemotherapy drug, Methotrexate is used either alone or in combination with other agents. It is also used as a treatment for some autoimmune diseases including, rheumatoid arthritis, psoriasis, psoriatic arthritis, lupus and Crohn's
Shares of Strides Arcolab on Friday closed at Rs 580 on the BSE, down 1.62 percent from previous closing.