Sun Pharma receives approval for gNexium
Esomeprazole Magnesium i.e. Nexium is a large sized drug with 10-12 competitors. Sun Pharma should be able to gain market share due to the size of the drug.
Sun Pharma has received USFDA approval for its version of Esomeprazole Magnesium. This drug is sold by AstraZeneca under the brand Nexium. It is a prescription drug used to treat gastroesophageal reflux disease and other conditions involving excessive stomach acid. Nexium is derived from the proton pump inhibitor Prilosec.
Nexium is a large sized drug with US sales of $2.2bn in 2017, of this $1.4bn is held by the generic companies. The drug already has 10-12 players and Mylan, Teva, Dr. Reddy’s and Torrent Pharma hold the largest share in the gNexium. However, the size of the drug is supportive to bring in additional competition and Sun Pharma will be able to gain market share in this drug.
It is not clear if this drug is fiiled from Halol, in case if this drug is filed form Halol, the stock would show more gains during the day.