Ranbaxy Laboratories on Friday said it has launched generic pioglitazone hydrochloride tablets used for treating diabetes in the American market under an agreement with Takeda Pharmaceuticals USA Inc.
The company's wholly-owned subsidiary Ranbaxy Pharmaceuticals Inc has launched the drug following the expiry of patent held by Takeda Pharmaceutical.
FROM THE MAGAZINE: Ranbaxy sets the trend for more indigenous drugs
Ranbaxy is among the three companies, including Teva and Mylan, to have 180-days of marketing exclusivity for the drug in the US market.
The Japanese firm has been selling the tablets under the brand name Actos through its US subsidiary, Takeda Pharmaceuticals USA Inc.
Commenting on the development, Ranbaxy North America Trade Sales and Distribution Vice President Bill Winter said: "Ranbaxy is making available the full range of generic pioglitazone in 15 mg, 30 mg and 45 mg tablets."
The introduction of generic pioglitazone hydrochloride tablets is a significant and important addition to the company's portfolio of anti diabetic products in the US, he added.
Quoting IMS-MAT June 2012 data, the company said Actos had generated total annual sales of $2.7 billion in US market.
The product is indicated for patients as an adjunct to diet and exercise to improve glycemic controls in adults with type 2 diabetes mellitus, it added.
Shares of Ranbaxy Laboratories on Friday closed at Rs 515.05 on BSE, up 0.94 per cent from its previous close.