The Hindu Business Line : Ranbaxy gets nod to sell cholesterol drug in Canada

The clearance received from Health Canada, Therapeutic Products Directorate is for 10mg, 20mg and 40mg Ran-Pravastatin tablets, said Ranbaxy in a statement. "We estimate the product to be available by June to all classes of trade," said Mr Paul Drake, President and GM of the company's Ontario-based wholly owned subsidiary, Ranbaxy Pharmaceuticals - Canada Inc. The total annual market for Pravastatin in Canada is estimated at C$72.9 million.

Expanding biz

The Canadian business operating since 2005 has been engaged in the sale and distribution of in-licensed generic products; it will henceforth focus on marketing Ranbaxy's own products. "Our effort to expand business was fuelled through inorganic product strategies. This approval is based on our organic product strategy that utilises the internal R&D expertise and capabilities of our parent company, Ranbaxy Laboratories Ltd," said Mr Drake.

Last month, the Gurgaon-based company received the US Food and Drug Administration's (USFDA) go-ahead for four strengths of the generic version of Bristol Myers Squibb's Pravachol, with 180-day exclusivity for 80mg strength. However, the news had not generated much excitement since analysts had long since discounted the commercial gains from the exclusivity, delayed due to the USFDA non-clearance of Ranbaxy's Paonta Sahib facility from where the drug was to be originally manufactured.

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