Ranbaxy: FDA OKs generic Pravachol |
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Wed, 25 Apr 2007 17:14
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NEW YORK (AP) - Indian generic drug developer Ranbaxy Laboratories Ltd. said Wednesday its Ranbaxy Pharmaceuticals unit received Food and Drug Administration approval to make and market Pravastatin sodium tablets, the generic version of Bristol-Myers Squibb Co.'s cholesterol-lowering drug Pravachol.Pravachol lost patent protection a year ago. Total annual market sales for all strengths were $1.19 billion.Ranbaxy will have the exclusive right to market Pravastatin 80 mg tablets for 180 days under the Ranbaxy label. Pravastatin will be manufactured at Ohm Laboratories in New Brunswick, N.J.Shares of Bristol-Myers rose 23 cents to $29.01 on the New York Stock Exchange in midday trading.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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