PRINCETON, N.J., March 5, 2013 /PRNewswire/ -- Ranbaxy Pharmaceuticals Inc. (RPI), a wholly owned subsidiary of Ranbaxy Laboratories Limited (RLL), announced today that it has entered into an in-licensing agreement with Alembic Pharmaceuticals Limited to exclusively market Desvenlafaxine Base Extended Release Tablets in the U.S. healthcare system. Alembic Pharmaceuticals Limited is the sponsor and manufacturer of the New Drug Application (NDA) Desvenlafaxine Base Extended Release Tablets. The product is a bioequivalent version of innovator drug, Pristiq® by Pfizer, Inc.* The market size for Pristiq® is U.S. $ 590 Mn (IMS - MAT January 2013).
Desvenlafaxine Base Extended Release Tablets is indicated for the treatment of major depressive disorder. The product will be available in 50 mg and 100 mg dosage strengths. Alembic has received the final approval from the U.S. Food and Drug Administration (USFDA) and Ranbaxy expects the product to be available in the U.S. marketplace during the first quarter of 2013.
Commenting on the development, Bill Winter, Vice President, Ranbaxy Trade Sales and Distribution, North America said, "Ranbaxy is pleased to partner with Alembic to offer a safe, effective, affordable generic alternative to the brand formulation much ahead of the patent expiration. We are committed to expand our portfolio of products offered in the U.S. market for the benefit of patients, prescribers and the U.S. healthcare system."
About Ranbaxy Pharmaceuticals Inc.
Ranbaxy Pharmaceuticals Inc. (RPI) based in Jacksonville, Florida, USA, is a wholly owned subsidiary of Ranbaxy Laboratories Limited, India's largest pharmaceutical company. RPI is engaged in the sale and distribution of generic and branded prescription products in the U.S. healthcare system.
About Ranbaxy Laboratories Limited
Ranbaxy Laboratories Limited, India's largest pharmaceutical company, is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies. Ranbaxy's continued focus on R&D has resulted in several approvals, in developed and emerging markets many of which incorporate proprietary Novel Drug Delivery Systems (NDDS) and technologies, developed at its own labs. The company has further strengthened its focus on generics research and is increasingly working on more complex and specialty areas. Ranbaxy serves its customers in over 150 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 43 countries and manufacturing operations in 8 countries. Ranbaxy is a member of the Daiichi Sankyo Group. Through strategic in-licensing opportunities and its hybrid business model with Daiichi Sankyo, a leading global pharma innovator headquartered in Tokyo, Japan, Ranbaxy is introducing many innovator products in markets around the world, where it has a strong presence. This is in line with the company's commitment to increase penetration and improve access to medicines, across the globe. For more information, please visit www.ranbaxy.com
About Alembic Pharmaceuticals Limited
Alembic Pharmaceuticals Limited, a vertically integrated research and development pharmaceutical company, has been at the forefront of healthcare since 1907. Headquartered in India, Alembic is a publicly listed company that manufactures and markets generic pharmaceutical products all over the world. Alembic's state of the art research and manufacturing facilities are approved by regulatory authorities all over the world including the US FDA. Alembic is one of the leaders in branded generics in India. Alembic's brands, marketed through a field force of over 3000 sales representatives, are well recognized by doctors and patients. More information about the company can be found at www.alembic-india.com; (Reuters: ALEM.NS, Bloomberg: ALPM:IN, NSE: APLLTD, BSE: 533573)
*Pristiq® is a registered trademark of Pfizer, Inc.
CONTACTS: Charles M. Caprariello Robert Ferris Vice President, Corporate Communications RF Binder Partners Inc. Ranbaxy Inc. (212) 994-7505 (609) 720-5615
SOURCE Ranbaxy Pharmaceuticals Inc.