FDA Approves Unknown Drug — SUN PHARM INDS INC

On May 28, 2013, SUN PHARM INDS INC secured regulatory approval for its abbreviated new drug application, a development likely to prompt significant market competition against the corresponding brand-name products. The approval of this ANDA allows the company to manufacture and sell the generic formulation, which is expected to provide a substantial revenue boost given the market size of the original therapy.