The U.S. Food and Drug Administration has approved Spectrum Pharmaceuticals Inc's Levoleucovorin as a treatment for osteosarcoma, a type of bone cancer

Spectrum Pharmaceuticals Inc's has received approval from USFDA to use Levoleucovorin after high-dose methotrexate therapy in patients with osteosarcoma, and to diminish the toxicity and counteract the effects of impaired methotrexate elimination or inadvertent overdose of folic acid antagonists.

Spectrum said it plans to seek FDA approval of the drug in colon cancer patients and as an oral tablet by mid-year. Spectrum said it plans to launch sales of the injectable drug by June.