13 April 2016 - Australian pharmaceutical company IDT’s shares have jumped almost 30 per cent on news of US approval for its oral brain cancer drug.

The Victorian-based company announced today that it had gained approval from the US FDA for its cancer drug temozolomide.

The company said the approval paved the way for the commercial launch of what was to be its first product in a portfolio of its own generic drug products into the US market.

“Securing FDA approval for the first of IDT’s proprietary products is a major milestone for the company and to have this ahead of schedule is a fantastic result,” IDT’s chief executive, Paul MacLeman, said.

IDT, with its US distribution partner Mayne Pharma, said it would begin planning for a commercial US launch of the product, which was expected to deliver revenues this year.

For more details, go to: http://www.theaustralian.com.au/business/companies/us-approval-for-idt-brain-cancer-drug/news-story/3216804805353cf01f596a575d479fee