Ranbaxy receives USFDA approval for anti acne drug Absorica

Ranbaxy Laboratories has received an approval for an anti acne drug Absorica developed by US firm Cipher, the company said in a release to the exchanges.

Ranbaxy will pay royalties on net sales to Cipher, from whom Ranbaxy has patented this product. The product is expected to launch in the Q4 2012 in the North American region.

The company however did not specify the financial details of this product.

"We are thrilled to make Absorica available as a valuable option for the dermatologists and patients who need treatment for severe recalcitrant nodular acne. Absorica is a critical milestone in our commitment to serve the dermatology community and will be the flagship brand for Ranbaxy's specialized dermatology sales force" said Venkat Krishnan, Senior Vice President and Regional Director, Americas, Ranbaxy.

Ranbaxy shares remained unchanged with this news, trading at Rs 528 at 3.06 pm on Monday.