Drug Major Sun Pharmaceuticals has announced the commercial launch of generic Pantoprazole Sodium Delayed Release (DR) Tablets, 40 mg in the market. The drug is used for treating oesophagus ailments.

Sun Pharmaceuticals has launched the drug after the commercial launch by Teva Pharmaceutical Industries and Wyeth’s generic Pantoprazole Sodium tablets product.

This strength of Pantoprazole Sodium has annual sales of around 2.3 billion dollar in the US. The product is being sold by its marketing partner Caraco Pharmaceutical Laboratories.

The company had received a USFDA approval for these tablets in Sep 2007.

For the quarter to Dec 31, 2007, the company posted a net profit of Rs. 318.4 crore, compared with Rs. 199 crore for same period, corresponding year. During the same period, its net sales were up at Rs 803.9 crore versus Rs 540 crore.

The shares of the company reacted positively to the news and surged 9% to Rs. 1155 on the BSE, at the close of Wednesday's trading. Stock Markets closed with huge loss on Wednesday as selling pressure continued in Blue-chip stocks.