Ind-Swift Ltd. added another feather in its cap by launching generic formulations of Atorvastatin in the UK in collaboration with Wockhardt UK Ltd. on the first day of its patent expiry. Atorvastatin is the world's best selling drug with world market size of $16 billion.
The drug went off patent in Europe on May 6, 2012 and taking this opportunity Ind Swift and its UK marketing partner Wockhardt UK launched the generic version of the molecule in the UK on day one after the patent expiry.
The product was launched in all its strengths - 10mg, 20mg, 40mg and 80 mg.
The API required for the product was supplied from the US FDA and MHRA approved plant of Ind-Swift Laboratories and the formulations was manufactured and supplied from the 100 percent export oriented facility of Ind-Swift located at Jawaharpur near Derabassi Punjab.
Ind-Swift Vice Chairman N.R. Munjal commented, "With increase in demand for cost effective drugs for cardiovascular diseases, this generic launch is an excellent example of collaborative efforts of the two companies in leveraging on mutual strengths and competencies. We are targeting to capture a significant market share of this product in UK within the first year of launch."
He further added that the company has few more such product sin pipeline to be launched in European market in the near future.
Wockhardt UK Managing Director Sirjiwan Singh said, "Wockhardt UK is one of the major suppliers of healthcare products to the Retail Pharmacy and Hospitals in UK and the launch of generic version of Atorvastatin in collaboration with Ind-Swift is an important milestone for us."
At the BSE, Ind-Swift shares are currently trading at Rs.26.40, up 2.33 percent from the previous close.
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