Ind-Swift Ltd, a Chandigarh based pharmaceutical company, has launched generic formulations of the world's best selling drug atorvastatin in UK in collaboration with Wockhardt UK Ltd on the first day of its patent expiry.
Atorvastatin, is the best selling drug with world market size of US$ 16 billion. The drug went off patent in Europe on 6th May, 2012 and taking this opportunity Ind-Swift Limited and its EU marketing partner Wockhardt UK Ltd launched the generic version of the molecule in UK on day one after the patent expiry.
The product was launched in all its strengths i.e. 10mg, 20mg, 40mg and 80 mg.
According to a company press release, the API required for the product was supplied from the US FDA and MHRA approved plant of Ind- Swift Laboratories Limited and the formulations was manufactured and supplied from the 100 per cent export oriented facility of Ind-Swift Limited located at Jawaharpur near Derabassi, Punjab.
The first day launch of atorvastatin in collaboration with its marketing partner Wockhardt UK Limited is a significant achievement for Ind-Swift Limited. Speaking on the occasion Sirjiwan Singh, managing director Wockhardt UK Limited said, "Wockhardt UK is one of the major suppliers of healthcare products to the retail pharmacy and hospitals in UK and the launch of generic version of atorvastatin in collaboration with Ind-Swift Limited is an important milestone for us.”
"With increase in demand for cost effective drug for cardiovascular diseases, this generic launch is an excellent example of collaboration efforts of the two companies in leveraging on mutual strengths and competencies. We are targeting to capture a significant market share of this product in UK with in the first year of launch,” added NR Munjal, vice chairman, Ind-Swift Limited.
He further added that thehas few more such products in pipeline to be launched in European market in near future.