Ranbaxy Labs gets US FDA Nod

Ranbaxy said it has been granted a 180-day market exclusivity in the US for the 80-mg dosage of the drug pravastatin sodium tablets, which is used to treat cardiac diseases. The 80-mg tablet had annual sales of $209 million, while the market for all dosages of the drug was $1.19 billion a year, Ranbaxy said in a statement.

Pravastatin is the generic version of Bristol-Myers Squibb’s cholesterol-fighter Pravachol.

As per recent reports, Ranbaxy Laboratories is investing more than $20 million (over Rs 83 crore) in its Romanian subsidiary, Terapia Ranbaxy. The move is a part of the company‚Äôs strategy to make the subsidiary its hub for Europe and Commonwealth of Independent States (CIS)’ countries. Terapia SA, an 86-year-old company, was acquired by Ranbaxy for $324 million (Rs 1,347 crore) in June 2006.