Ranbaxy Laboratories (RANBAXY.BO) Misses Out on First-Day Launch of Hypertension Drug's Generic Version
9/26/2012 7:32:28 AM
Ranbaxy LaboratoriesBSE 1.07 % has missed out on the "first -day launch" of its generic version of Novartis' blockbuster hypertension drug Diovan in the US, as it is yet to get the US food and Drug Administration's (FDA's) approval for the generic version of the drug, valsartan. India's largest drugmaker Ranbaxy has the exclusive rights to market the generic for 180 days, as it was the first company to successfully challenge Novartis' patent for Diovan. The company was scheduled to launch its drug on Friday, the day Diovan's patent expired, and analysts estimate that sales of the generic could be 350-450 crore during this six months starting September 21, 2012.