Although the company sells most of its top 20 global products in India, it is looking to bring in a couple of drugs, the patents of which have expired, to the domestic market.
The lawsuit stems from a 2008 settlement of a patent lawsuit filed by Pfizer against Ranbaxy over Ranbaxy's plan to make generic Lipitor. Under the deal, Pfizer agreed to drop a claim for damages against Ranbaxy, and Ranbaxy agreed to stay out of the Lipitor market until November 2011.
Ranbaxy has recalled tablets of atorvastatin calcium, the generic name for Lipitor's active ingredient, after a pharmacist found a 20-milligram tablet in a sealed bottle marked for 10-milligram tablets, the US Food and Drug Administration (FDA) said.
The rival drugmakers had entered into a profit-sharing deal barring one from challenging the other's right to sell generic drugs for an exclusive period.
Drug-maker Wockhardt has fallen foul of the US drug regulator once again and this time, the focus is on its Chikalthana plant.
SBI Cap Securities‘ Vivek Kumar continues to be bullish on Ranbaxy Laboratories despite its poor first quarter earnings; as against other brokerage houses like Quant Capital and Angel Broking which are advising to stay away from the stock.
Ranbaxy Laboratories has reasons to cheer as the New Jersey court has rejected a class action suit proposal against the company demanding a wider recall of its drug Atorvastatin.
Ranbaxy shares rose over 4 percent in morning trade after the drug maker said it has resumed production of the drug substance for its Atorvastatin cholesterol lowering drug in United States.
Indian generic drugmaker Ranbaxy Laboratories will stop manufacturing its version of Pfizer Inc's cholesterol fighter, Lipitor, while it gets to the bottom of the cause of a recent recall, the US Food and Drug Administration said on its website.
Drug maker Ranbaxy's recall of its generic version of cholesterol lowering drug Lipitor impacts 41 lots in various strengths due to potential presence of foreign substance.
Shares of drug maker Ranbaxy slipped over 2 percent on Friday after the company said it was recalling some batches of its cholesterol lowering drug Atorvastatin (generic version of Pfizer's Lipitor) from the US market, and supplies would be affected until an investigation is completed.
Pfizer Inc reported higher-than-expected quarterly earnings, helped by cuts in research spending and other costs, and affirmed its 2012 profit forecast despite the negative impact of the stronger dollar.
Dr Reddys Laboratories has launched Atorvastatin Calcium Tablets, a bioequivalent of Lipitor in the US, reports Business Standard.
Pharma major Dr Reddy's Laboratories today announced that it has launched Atorvastatin calcium tablets, a bioequivalent generic version of Lipitor tablets in the US market.
Drugmakers Ind-Swift and Wockhardt have jointly launched a generic version of Pfizer's cholesterol lowering drug Lipitor in the United Kingdom, the two companies said.
GV Prasad VC & CEO, Dr Reddy Laboratories explains to CNBC-TV18 that the reason for company‘s good performance for the quarter is the robust growth in the US, Russia and the API business
Pharma major Ranbaxy on Wednesday beat street estimates with a four-fold year-on-year jump in first quarter net profit at Rs 1,247 crore. However, many analysts were unimpressed on the results, which were boosted mainly by forex gains and strong sales of its copy of cholesterol lowering drug Lipitor.
Pharma major Ranbaxy on Wednesday beat street estimates with a four-fold year-on-year increase in first quarter net profit at Rs 1,247 crore, helped by strong sales including that of its cholesterol lowering drug Atorvastatin in the US market, and forex gains.
Ranbaxy Laboratories, India's top drugmaker by sales, reported a four-fold rise in quarterly net profit, helped by sales of its generic version of cholesterol drug Lipitor in its key US market, sending its shares up more than 4.5%.
Pharma major Ranbaxy Wednesday reported a significantly better-than-expected four-fold year-on-year increase in consolidated net profit at Rs 1,247 crore, helped by strong sales growth, higher other income and forex gains.
Suzuki Motorcycle India Pvt. Ltd., a subsidiary of one of the world’s leading two-wheeler manufacturer Suzuki Motor Corporation, registered a 28.5% increase in their March 2012 sales figures as compared to March 2011.
Group Ranbaxy Laboratories has launched generic copies of Lipitor in four European markets, bringing cheap versions of U.S. drugmaker Pfizer's blockbuster cholesterol drug to Germany, Italy, the Netherlands and Sweden.
Pharma major Ranbaxy has launched its generic version of cholesterol lowering drug Atorvastatin in Italy, Sweden and Netherlands having received approval from local regulatory authorities.
Ranbaxy's fourth quarter earnings got a mixed response from the street on Friday. The stock rose about 1% in early trade but slipped below Thursday's close soon after. Analysts too were divided, although most agree that resolution of all issues with the US Food and Drug Administration is key for Ranbaxy going ahead.