Irinotecan Hydrochloride Injection is the generic equivalent of Pfizer Inc.'s (PFE | news | PowerRating | PR Charts ) Camptosar Injection, which is used for the treatment of several types of cancers, including ovarian, lung, and colorectal cancer.
According to the company, Irinotecan represents the fourth Abbreviated New Drug Application approval it has received thus far in 2008.
Sales of Camptosar in the United States were about $556 million in 2007, according to IMS data.
APP as it is now known was the generic injectable drug business of Abraxis BioScience Inc. till November of 2007. On November 14, 2007 Abraxis BioScience split itself into two separate companies, a new Abraxis BioScience (ABII | news | PowerRating | PR Charts ), focused on developing the company's nanoparticle cancer therapeutics including breast cancer treatment Abraxane, and APP Pharmaceuticals (APPX | news | PowerRating | PR Charts ), focused on developing injectable pharmaceutical products.
APPX closed Wednesday's regular trade down $0.07 at $11.48 on a volume of 227,381 shares. However, in after-hours the stock gained 1.92% and was at $11.70.
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