Ranbaxy Laboratories Ltd. said its wholly-owned subsidiary Ranbaxy Pharmaceuticals Inc. had launched the authorized generic cevimeline hydrochloride 30 mg capsules in the US market, under an agreement with Daiichi Sankyo, Inc.
Cevimeline hydrochloride is indicated for the treatment of symptoms of dry mouth associated with Sjogren's syndrome, an autoimmune disorder affecting the moisture-producing glands, and is presently distributed by Daiichi Sankyo under the brand name Evoxac.
As per IMS - MAT June 2012, Evoxac generated total annualized sales of $62.4 million in the US
Commenting on the launch, Chairman of Ranbaxy Tsutomu Une said, "We refer to the strategy of optimizing the diverse assets of both companies as our Hybrid Business Model, that will allow both organizations to effectively seize opportunities across the full pharmaceutical value chain and product life-cycle, by leveraging the R&D and manufacturing of both Daiichi Sankyo and Ranbaxy. As such, we will continue to reinforce our respective business platform over the longer term through this hybrid strategy."
At the BSE, Ranbaxy Laboratories shares are being traded at Rs.536.35, up 1.57 percent from the previous close.
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