>Jubilant Organosys Ltd (KR CHOKSEY)

Draxis – Jubilant’s subsidiary received an approval for generic Sestamibi
Draxis pharma, Canadian subsidiary of Jubilant Organosys, a leading player of custom research and manufacturing services (CRAMs), has received an approval from Health Canada for generic Sestamibi. The drug is a generic kit for Technetium (Tc 99m), Sestamibi injection, a diagnostic cardiac imaging agent used for the diagnosis and localization of myocardial infarction; and for the diagnosis and localization of ischemic heart disease and coronary disease. The recent approval of the drug is expected to strengthen the product portfolio of the company in radiopharmaceutical segment.

Manufacturing base:
Sestamibi is expected to be manufactured at Montreal, the sterile injectible facility of Draxis. and is expected to be commercialized once the patent for the innovative drug “Cardiolite” expires. Sestamibi to hit the Canadian market by July The patent of the innovator drug is expected to expire by July 2009 thus the company is expecting launch the generic version of innovator drug, Sestamibi by the mid of second quarter.

Sestamibi to hit the Canadian market by July
The patent of the innovator drug is expected to expire by July 2009 thus the company is expecting launch the generic version of innovator drug, Sestamibi by the mid of second quarter.

First mover advantage for Jubilant
Jubilant being the first generic player to launch the drug in Canada would get the first mover advantage as there would be only two player in the market including the innovator company BMS for the same. The total market size of the drug in Canada is estimated to be around USD25 Mn whereas globally it is expected to be around USD 800 Mn.

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