March 28, 2017 / 4:56 AM / 5 months ago

BUZZ-India's Dishman Pharmaceuticals hits all-time high on FDA nod for cancer drug

** Shares of Dishman Pharmaceuticals and Chemicals Ltd soar as much as 20 pct to a record high

** Company's partner Tesaro Inc gets U.S. Food and Drug Administration (FDA) nod for ovarian cancer drug Niraparib

** Niraparib kills cancer cells by inhibiting production of proteins called PARPs, which help repair damaged DNA strands

** Research firm Dolat Capital says this drug has the potential to become very large given it is the first PARP inhibitor available as of now

** We expect revenues from this molecule to Dishman can be anywhere between $40 mln-80 mln - Dolat Capital

** More than 2.2 mln shares traded, over twice their 30-day moving avg

** Dishman stock up 7.3 pct this year as of Monday's close

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