Ranbaxy falls on uncertainties over generic Lipitor launch

Moneycontrol Bureau

Shares of pharma major Ranbaxy Laboratories slipped over 3% on Wednesday amidst uncertainties as to when it will be able to launch a generic version of the blockbuster drug Lipitor.

US Patents for the cholesterol lowering drug Lipitor, so far held by Pfizer, expire today. Ranbaxy and rival Watson Pharmaceuticals are the only two firms entitled to exclusively sell a copy of Lipitor for next six months once the patents expire.

However, Ranbaxy still has to get final clearance from the US Food and Drugs Administration [FDA] to launch its product in the market.

"The stock is reacting to the uncertainty related to the Lipitor launch