Drug major Ranbaxy Laboratories could suffer a potential revenue loss to the tune of Rs 300 crore (Rs 3 billion) due to delay in receiving approval from the US Food and Drug Administration (FDA) for generic version of GSK's anti-migraine medicine Imitrex, according to analysts.
Dr Reddy's has reached an out-of-court settlement to launch the Glaxo-patented Imitrex, a migraine drug that had annual sales of $878 million as of March 31, 2006, in the US. Experts estimate Dr Reddy's may not get more than $8-$15 million sales in 2009 since majority of sales revenue has to be given to GSK, for allowing the launch the authorised generic version.
GlaxoSmithKline has filed a lawsuit in a United States court against Dr Reddy's Laboratories alleging infringement of patent rights of a generic version of 'Imitrex' drug, used for the treatment of migraine.
GlaxoSmithKline Plc's anti-migraine drug brand, Imitrex, is turning out to be a good revenue earner for Indian generic companies.
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