Ranbaxy Laboratories starts discussions with Ind Swift for low cost verision of Lipitor drug

NEW DELHI: Ranbaxy Laboratories has started discussions with Ind Swift to source raw material to make low-cost version of the world's largest selling drug, Lipitor, which the country's largest drugmaker hopes to roll out in the US by November end.

N R Munjal, vice-chairman at Ind Swift said, "We are discussing various options to supply intermediate or final API atorvastatin to Ranbaxy." API or active pharmaceutical ingredient is the basic chemical used in a drug, in this case, atorvastatin. The Ranbaxy spokesman declined comment.

According to Hemant Bakhru at brokerage firm CLSA, talks for sourcing API confirms Ranbaxy's 'intention to produce' the medicine on its own. But he said it was unlikely that the API from this supply agreement would be used for the US launch, which subject to the approval of the US drug regulator, is slated for November 30.

Ranbaxy's share price closed marginally down at 488.55 on Tuesday on the BSE.