India's Sun Pharma launches generic version of Novartis' Gleevec in the USA
Indian drugmaker Sun Pharma (BOM: 524715) launched of the generic version of Swiss drug firm Novartis' (NOVN: VX) cancer drug Gleevec (imatinib) in the USA.
The company expects to grab a third of total sales over the next six months based on about 30% lower pricing for the generic.
In the USA, Gleevec costs up to about $90,000 in annual expenses and this may mean that Sun Pharma’s pricing would bring down the cost to about $60,000. For 2015, Gleevec reported global revenue of $4.7 billion.
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