Ranbaxy Laboratories Limited (RLL) has announced the commercialisation of its first Authorized Generic (AG) product, Isoptin SR (Verapamil SR) in the US market, through its wholly owned subsidiary, Ranbaxy Pharmaceuticals Inc. (RPI), following an agreement with FSC Laboratories, Inc. of Charlotte, North Carolina, USA.
Commenting on the development, K Venkatachalam, vice president and regional director, North America, Ranbaxy, said, "The commercialisation of Isoptin SR heralds Ranbaxy's entry into the Authorised Generics space. Isoptin SR, a niche value added formulation, also enhances our New Drug Delivery systems (NDDS) capability and our efforts with other molecules, to improve patient compliance."
Verapamil, a calcium ion antagonist or channel blocker, is indicated for the management of hypertension and angina. The generic market for Verapamil SR is worth $122.2 million (IMS - MAT: December 2006) with limited competition primarily from two other players.
RPI, based in Jacksonville, Florida, USA, is a wholly owned subsidiary of RLL, India's largest pharmaceutical company. RPI is engaged in the sale and distribution of generic and branded prescription products in the US healthcare system.
Ranbaxy Laboratories Limited, India's largest pharmaceutical company, 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 11 countries.