Ranbaxy to launch Lipitor generic in Canada

The Gurgaon-based firm said its wholly-owned subsidiary Ranbaxy Pharmaceuticals Canada Inc (RPCI) has got the approval from Health Canada to market 'RAN-Atorvastatin Tablets', a generic version of Pfizer's patented drug Lipitor in 10 mg, 20 mg, 40 mg, and 80 mg strengths, in Canada.

"As a result of our global settlement,Ranbaxy is pleased to announce the immediate launch of 'RAN-Atorvastatin'. Atorvastatin is a lipid metabolism regulator marketed under the Lipitor brand, representing the largest selling pharmaceutical brand in Canada," RPCI President Paul Drake said.

Atorvastatin has a total annual sale of more than USD 12 billion globally and the market for the drug in Canada is around CAD 1.2 billion.

Ranbaxy Laboratories became a part of Daiichi Sankyo Group in 2008 after Japan's third largest drug maker Daiichi Sankyo bought the majority stake in the Indian drug firm for Rs 22,000 crore.

In 2008, Ranbaxy Laboratories and Pfizer entered into a lawsuit settlement, under which Ranbaxy had agreed not to sell generic versions of Lipitor in US until November 2011.

As per the agreement, Ranbaxy got the license to sell Atorvastatin on varying dates in other seven countries including Canada, Belgium, Netherlands, Germany, Sweden, Italy and Australia.

Ranbaxy, which was the first generic drug maker to challenge the Lipitor patent, was eligible for gaining exclusive marketing rights of 180 days of the drug after getting US health regulator Food and Drug Administration' nod in US, which is also the largest drug market globally.