One of the leading pharmaceuticals companies of India, the Ranbaxy Laboratories has recently announced that it has reached an out-of-court settlement to its patent clash with the GlaxoSmithKline over the migraine drug named Imitrex. The company officials have stated that Ranbaxy would be able to distribute the generic version of the drugs in three strengths (25 mg, 50 mg and 100 mg) in the US market from the month of December 2008, under the terms of settlement.
The officials of the company have also claimed that the annual market sales for the drug is estimated at $985 million, however, they did not say anything about the other details of the settlement agreement. According to the analysts from the Indian pharmaceuticals industry, the drug could provide the company a revenue of $90-100 million in sales during the six-month period.
According to the other sources from the industry, the other major pharmaceuticals company named Dr Reddys will also be selling the sumatriptan succinate tablets or the generic Imitrex during the period. Dr Reddys is currently having an agreement with the GSK to sell the "authorised generic" version of the drug. The sources added that this is the third out-of-court settlement for Ranbaxy for a billion dollar drugs in the last six months. Earlier in the month of July, 2007, the company did announce a deal with the GlaxoSmithKline for the drug named Valtrex.
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| Posted : 1/23/2008 |
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