Drug major Ranbaxy Laboratories has launched its generic version of blockbuster cholesterol-lowering drug Lipitor in the US market.
The launch came after final approval from the US health regulator to manufacture the generic version of Lipitor at Ranbaxy's wholly owned Ohm Laboratories facility in New Brunswick, New Jersey, as well as market the product.
"Ranbaxy Pharmaceuticals Inc, a wholly owned subsidiary of Ranbaxy Laboratories, has received final approval from the US Food and Drug Administration to manufacture and market Atorvastatin and has launched the product in the US market," the company said in a statement.
Following the news, shares of Ranbaxy Laboratories shot up by 7.5% to Rs 467.5 in opening trade on the BSE and finally closed at Rs 444.1 on Thursday.
"Atorvastatin helps millions of Americans manage healthy cholesterol levels and we are pleased to have received USFDA approval to manufacture and market a safe, effective, affordable and accessible alternative to branded Lipitor," said Arun Sawhney, CEO and managing director, Ranbaxy.
"We are committed to continuing to expand our portfolio of products offered in the US market for the benefit of patients, prescribers and the US healthcare system," he said.
Atorvastatin is a cholesterol-reducing medicine, the generic equivalent of Pfizer's Lipitor drug, which generated total annual sales of $7.9 billion in the US through September, 2011, Ranbaxy said.