Ipca Laboratories Enters into Strategic Alliance with Ranbaxy Pharmaceuticals Inc., for the US Market

Ipca Laboratories Ltd has announced that the Company has entered into a strategic alliance with Ranbaxy Pharmaceuticals Inc. (Ranbaxy) based in Jacksonville, Florida (USA), a wholly owned subsidiary of Ranbaxy Laboratories Ltd., India’s largest pharmaceutical company. Ranbaxy is engaged in the sale and distribution of generic and branded prescription products in the U.S. healthcare system.

Under this alliance, the Company will develop a number of generic prescription pharmaceutical products which will be marketed by Ranbaxy in the U.S. Ranbaxy will file for regulatory approval and initially support manufacturing of these products. The first product to be launched under this alliance will be Furosemide Tablets 20mg, 40mg, and 80mg which received US FDA approval on September 18, 2006. In the future, the Company will manufacture such products utilizing its facilities in India. Most of these products will be supported using the Company’s DMF approved Active Pharmaceutical Ingredients (APIs).

Ranbaxy will commercialise these products in the U.S. market utilizing its established marketing expertise and distribution network.

The Company is setting up a new formulations manufacturing facility meeting U.S. regulatory requirements at SEZ Indore with an initial capital outlay of approximately Rs 60 crores.

Source : Equity Bulls

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