Events Details
Ranbaxy might bear another loss
Monday, October 27, 2014
The six-month exclusivity rights with Ranbaxy for the generic version of Nexium - a successful drug from AstraZeneca might be lost – only if it can’t get regulatory clearance for the US market by the end of next month. Ranbaxy is awaiting clearance from the FDA for this drug which treats heartburn.
This could be because of the ban on marketing drugs manufactured at the Punjab and Himachal units of Ranbaxy and may cause loss to the tune of $170-$180 million if it’s not cleared. The company, which is being acquired by Sun Pharma, is preparing to manufacture the generic version of Nexium from its plant at New Jersey in the US.
Dr Reddy''s, Sun Pharma and Aurobindo Pharma have also filed applied for new drug applications to market the generic version of Nexium in the US market.
