BENGALURU: In what could be a set-back, a U.S. court has denied and overturned a request made by the world’s largest drugmaker “Ranbaxy” to block the launch of rival generic drugs namely Nexium and antiviral Valcyte, reports Reuters.Ranbaxy, keeping a tentative approach to launch Nexium and Valcyte copies in the United States, had sought order against Dr. Reddy's Laboratories and U.S. firm Endo International Plc...
in a lawsuit, but that has now been overturned by U.S. District Judge Beryl Howell in Minneapolis. According to analysts, it has been said that Nexium is devised to add about $150 million to Ranbaxy's overall sales in the first six months of its launch, while generic Valcyte was seen adding about $50 million to sales. Although the company is acquired by larger local rival Sun Pharmaceutical Industries there was no comment from them on the case.
Earlier this month, the U.S. Food and Drug Administration had told Ranbaxy that, it had made an error in granting the approval to launch the drugs, although there were quality lapses at Ranbaxy's India plants. Ranbaxy and the FDA now have time until Nov. 21 to submit a schedule for further proceedings in the case.
Following this news, the Ranbaxy shares were down 1.6 percent at 592.90, while the wider Mumbai market was up 0.1 percent.
Earlier this month, the U.S. Food and Drug Administration had told Ranbaxy that, it had made an error in granting the approval to launch the drugs, although there were quality lapses at Ranbaxy's India plants. Ranbaxy and the FDA now have time until Nov. 21 to submit a schedule for further proceedings in the case.
Following this news, the Ranbaxy shares were down 1.6 percent at 592.90, while the wider Mumbai market was up 0.1 percent.