Ranbaxy ties up with Ipca Laboratories
Pharmaceutical major Ranbaxy on Thursday said it has entered into a strategic alliance with Mumbai-based Ipca Laboratories to develop generic drugs.
By PTI |
NEW DELHI: Pharmaceutical major Ranbaxy on Thursday said it has entered into a strategic alliance with Mumbai-based Ipca Laboratories to develop generic drugs.
The company has also received the USFDA approval for edema treatment drug Furosemide tablets.
Under the alliance with Ipca, the Mumbai-based firm would develop generic drugs, which would be marketed in the US by Ranbaxy.
Ranbaxy would file for regulatory approval and support manufacturing of these products, a statement said.
Ipca would also manufacture various other products in its facilities in India, which would be subsequently commercialised by Ranbaxy in the US, the statement said adding the company is setting up a new formulations manufacturing facility to meet US regulatory requirements at the Indore SEZ with an initial capital outlay of approximately Rs 60 crores.
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The tie up is through Ranbaxy's wholly-owned subsidiary in the US, Ranbaxy Pharmaceuticals Inc, it said.Meanwhile, Ranbaxy also received the USFDA approval to manufacture and market Furosemide tablets, the first product to be launched under the alliance, the statement said.
"The approval is the result a strategic alliance with Ipca, who will develop a number of generic pharmaceutical products to be marketed by Ranbaxy in the US, following USFDA approval," Ranbaxy Pharmaceutical Inc Vice President (US Sales and Marketing) Jim Meehan said.
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