Wockhardt Ltd, a pharmaceutical and biotechnology major, received US FDA approval for marketing the OTC (over the counter) version of Famotidine, an anti-ulcer drug, in the US market. The company had earlier received US FDA approval for marketing Famotidine 20 mg and 40 mg tablets, both prescription products. With the approval for Famotidine 10 mg OTC medication, the company is now present in the entire product range with a combined market size of $135 million.
"Wockhardt expect to announce more approvals during the year," Wockhardt chairman Habil Khorakiwala said. "We are working hard to increase the share of revenue from the US, the world's largest pharmaceutical market."
The company's US subsidiary Wockhardt USA Inc, expects to launch Famotidine in the US market next month. This is the fifth product to be launched by Wockhardt USA under the Wockhardt banner in the last few months, the others being ranitidine, Enalapril, Captopril and Bethenecol Chloride.