NEW DELHI: Sun Pharma Advanced Research CompanyBSE 1.13 % (SPARC) today said it plans to file in the second quarter of the next financial year a new drug application for Latanoprost BAKfree opthalmic solution to be used for treating glaucoma.
The company said it has completed pre-NDA (new drug application) meeting with US Food and Drug Administration (USFDA) for Latanoprost 'BAK Free' ophthalmic solution and the NDA will be filed in Q2 FY14.
Addressing an investors' conference call, SPARCChairman and Managing Director Dilip S Shanghvi said the company has already set aside funds for continuing with various projects.
"We have completed the fund raising programme where we have raised close to Rs 200 crore and this money should hopefully help us in continuing to fund ourinvestments for various studies going through...," Shanghvi said.
The company has also made significant progress in its various key programmes that have surpassed critical milestones, SPARC said.
Two new drug applications (NDAs) one for Levetiracetam ER 1000mg and 1500mg tablets for treatment of epilepsy and the other for Venlafaxine ER 300 mg tablets for treatment of depression have been filed, it added.
SPARC was formed in 2007, when Sun Pharmaceutical IndustriesBSE -0.16 % separated out its active projects in drug discovery and innovation into the new company.
Shares of Sun Pharma Advanced Research Company today closed at Rs 106.35 per scrip on BSE, down 0.51 per cent from its previous close.