Ranbaxy will be launching the first generic version of Swiss drug maker Novartis' Diovan (Valsartan) in the US market
In spite of regulatory downfalls and issues, India's leading drug maker, Ranbaxy Laboratories has finally decided to launch the generic version of Diovan in the its biggest market - US.
The company enjoys a 180 days exclusive marketing opportunity and will be launching the first generic version of Swiss drug maker Novartis' Diovan (Valsartan) in the US market.
The launch of this generic has been on hold since September 2012 and is said to now take place immediately without any delay, as the company has received the crucial US Food and Drug Administration (FDA) nod.
Addressing a conference in its home country in April, Ranbaxy's CEO Mr Arun Sawhney had said that the company is confident that it retains the exclusivity opportunities in US and would monetize it.
Meanwhile, Ranbaxy was bought over by another large Indian drug maker Sun Pharma in April in a transaction worth $4 billion. Post the merger, it is said that the combined company would be the largest pharma company in the domestic pharma space and fifth largest generic drug firm globally. Its present Japanese parent, Daiichi Sankyo, however would continue to hold a 9 percent stake in the company after the takeover is complete.
News reports added that Ranbaxy's next big test is the launch of generic version of AstraZeneca's Nexium (esomeprazole magnesium), which commands sales of over $5 billion, and was expected in May.