Ranbaxy Laboratories Ltd. (RBXY) won approval to sell generic copies of the $10.7 billion cholesterol pill Lipitor in the U.S., threatening Pfizer Inc. (PFE)’s sales. U.S. Food and Drug Administration clearance for Ranbaxy, India’s biggest drugmaker, followed a dispute over whether the company could produce the copies given questions about its manufacturing plants. A deal to share profits with Teva Pharmaceutical Industries Ltd. (TEVA), a generic-drug maker based in Israel, helped overcome that hurdle.
