Ranbaxy Laboratories Ltd July 30, 2007 announced the commercialization of its first Authorized Generic (AG) product, Isoptin® SR (Verapamil Sit) in the US market, through its wholly owned subsidiary, Ranbaxy Pharmaceuticals Inc. (RPI), following an agreement with FSC Laboratories, Inc. of Charlotte, North Carolina, USA.
Commenting on the development, K Venkatachalam, Vice President & Regional Director, North America, Ranbaxy, said, "The commercialization of Isoptin® SR heralds Ranbaxy’s entry into the Authorised Generics space. Isoptin® SR, a niche value added formulation, also enhances our New Drug Delivery systems (NDDS) capability and our efforts with other molecules, to improve patient compliance."
Verapamil, a calcium ion antagonist or channel blocker, is indicated for the management of hypertension and angina. The generic market for Verapamil SR is worth $122.2 million with limited competition primarily from 2 other players.
RPI, based in Jacksonville, Florida, USA, is a wholly owned subsidiary of the Company. RPI is engaged in the sale and distribution of generic and branded prescription products in the U.S. healthcare system.
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Union Budget