MUMBAI: Strides Arcolab said on Thursday its unit has received European Union's approval to launch cancer treatment drug Oxaliplatin in the United Kingdom.    

The drug, used to treat the cancer of the colon and rectum, would be manufactured in Strides Arcolab's Bangalore plant.   

The drug is part of the 37 drugs licensed to Pfizer by Strides on a semi-exclusive basis for sale in 17 European countries, the Indian firm said in a statement.   

The combined European market for Oxaliplatin is about USD312 million, it said, adding the approval for the rest of the European countries was expected shortly.