Ranbaxy signs licensing & supply agreement for the Canadian market

Ranbaxy Laboratories Ltd has announced that the Company’s wholly owned subsidiary, Ranbaxy Pharmaceuticals Canada Inc. (RPCI) and Janssen-Ortho Inc. (JOI), have entered into a licensing and supply agreement for a generic version of Risperidone compressed tablets, sold under Ranbaxy´s label, Ran^TM Risperidone. The Company is the first Indian Company to market a licensed generic product in Canada.

The Canadian patent for RISPERDAL® (Risperidone) expired in July 2006. Ran^TM Risperidone is now available through pharmacies and wholesalers.

The product is classified as a Psychotherapeutic drug indicated for the management of the manifestations of psychotic disorders.

Speaking on the licensing arrangement, Mr. Bill Abboud, President and General Manager RPCI, said, "This Agreement will provide Ranbaxy with an opportunity to commercialize products that have been shown to have a favorable impact on patients, and allow Ranbaxy to reinforce its presence in Canada."

Ranbaxy Pharmaceuticals Canada, Inc (RPCI) is a wholly owned subsidiary of the Company, and is engaged in the sale and distribution of generic medicines in the Canadian healthcare system. RPCI is the first India-based pharmaceutical Company with a branded presence in Canada, the 8th largest pharmaceutical market in the world.

Source : Equity Bulls

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