EDISON, N.J., Oct. 13 /PRNewswire/ -- Heritage Pharmaceuticals Inc. announced the immediate availability of Propranolol HCl Oral Tablets in 10, 20, 40, 60 and 80 mg strength. Heritage's development and manufacturing partner, Ipca Laboratories Ltd., received final approval of its Abbreviated New Drug Application (ANDA) for an AB Rated equivalent of Inderal(R) on June 2, 2008.
Propranolol Tablets are the generic equivalent of Inderal(R) Tablets formerly marketed by Wyeth. Propranolol has multiple cardiovascular related indications, including the management of hypertension, treatment of angina and atrial fibrillation. Propranolol had U.S. brand and generic sales of approximately $25 million for the 12-month period ending Dec. 31, 2007 according to IMS Health.
Commenting on the launch, Heritage President & CEO, Jeffrey Glazer, stated, "the launch of Propranolol represents the first vertically integrated product from our strategic alliance with Ipca and will enable us to leverage the economies of scale of products made abroad while continuing to provide customers with high quality, cost efficient generic pharmaceutical products. We are pleased with the strength of Ipca's development and manufacturing expertise and look forward to growing our product portfolio over 2008-09."
About Heritage
Heritage Pharmaceuticals Inc. is a rapidly growing generic pharmaceutical company engaged in the acquisition, licensing, development, marketing, sale and distribution of generic pharmaceutical products for the global prescription drug markets. Heritage launched its U.S. label in 2006 and currently markets 6 products over 27 SKU's, including Ethambutol tablets, Hydralazine tablets, Hydrochlorothiazide tablets, Sulindac tablets, Nimodipine soft gels and Propranolol tablets. The Company's business model utilizes strategic outsourcing to U.S.F.D.A. qualified manufacturing and development organizations in both North America and Asia. The Company will continue to introduce its new generic products during 2008 following its tradition of premier quality, value and service in generics. www.heritagepharma.com
About Ipca
Ipca is a fully integrated pharmaceutical Company engaged in the manufacturing and marketing of a range of Active Pharmaceutical Ingredients (APIs) and pharmaceuticals world over. Ipca's exports to over 110 countries across the globe contributed about 50% of the Company's income of 250 million (USD) in the financial year 2007-08. www.ipcalabs.com
* Inderal(R) is a registered trademark of Wyeth
CONTACT: Jason Malek, Director Sales Operations of Heritage
Pharmaceuticals Inc., Toll free, 1-866-901-1230, +1-732-429-1000, fax,
+1-732-429-1001, jmalek@heritagepharma.com
Web site: http://www.heritagepharma.com/
http://www.ipcalabs.com/
