Healthcare Industry News: Pravachol
News Release - April 25, 2007
Ranbaxy Receives Approval to Manufacture and Market Pravastatin Sodium Tablets in U.S.PRINCETON, N.J., April 25 (HSMN NewsFeed) -- Ranbaxy Pharmaceuticals Inc. (RPI), a wholly owned subsidiary of Ranbaxy Laboratories Limited (RLL), announced today that RLL has received approval from the U.S. Food and Drug Administration to manufacture and market Pravastatin Sodium Tablets (Pravastatin), 10 mg, 20 mg, 40 mg and 80 mg, with 180-day market exclusivity in the U.S. healthcare system for the 80 mg strength. The Office of Generic Drugs, U.S. Food and Drug Administration, has determined the Ranbaxy formulation to be bioequivalent and, therefore, therapeutically equivalent to the reference listed drug Pravachol® by Bristol Myers Squibb. Total annual market sales for all strengths were $1.19 billion (IMS - MAT: December 2006).
"Ranbaxy is pleased to now offer Pravastatin as an affordable generic alternative that will have a measurable impact on the U.S. healthcare system. Importantly, Ranbaxy will have the exclusive right to market Pravastatin 80 mg tablets for 180 days under the Ranbaxy label. Ranbaxy's Pravastatin will be manufactured at Ohm Laboratories in New Brunswick, New Jersey and will be made available through wholesalers, distributors and pharmacies on a nationwide basis," said Jim Meehan, Vice President of Sales and Marketing for RPI.
Ranbaxy Pharmaceuticals Inc. (RPI) based in Jacksonville, Florida, is a wholly owned subsidiary of Ranbaxy Laboratories Limited (RLL), India's largest pharmaceutical company. RPI is engaged in the sale and distribution of generic and branded prescription products in the U.S. healthcare system.
Ranbaxy Laboratories Limited, headquartered in India, is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies.
Ranbaxy's continued focus on R&D has resulted in several approvals in developed markets and significant progress in New Drug Discovery Research. The Company's foray into Novel Drug Delivery Systems has led to proprietary "platform technologies", resulting in a number of products under development. The Company is serving its customers in over 125 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 49 countries and manufacturing operations in 9 countries.
*Pravachol® is a registered trademark of Bristol Myers Squibb
Source: Ranbaxy Pharmaceuticals
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