Sun Pharmaceutical Industries Ltd, a leading India based drug major has informed that it has received tentative approval from USFDA for company's

Abbreivated New Drug Application (ANDA) for generic Optivar, azelastine ophthalmic solution 0.05%.

The pharmaceutical firms stated in a communiqué that sterile azelastine hydrochloride ophthalmic solution is the therapeutically equivalent to Optivar Opthalmic Solution 0.05% of Medpointe Pharmaceuticals.

Reports suggest that the product has annual sales of approximately $48 million in the US. Azelastine is a selective antihistamine, which used for the treatment of the itching of the eyes associated with allertic conjunctivitis.

Ahead of positive announcement, the scrip of the company today closed on BSE, with gain of Rs 28 or 2.46% at Rs 1146.