Shares of Ranbaxy Laboratories on Thursday fell 7.67 per cent on the Bombay Stock Exchange to Rs 552.25 at close, after top investment banks like JP Morgan and CLSA said the out-of-court settlement with Pfizer over cholesterol pill Lipitor announced on Wednesday would delay the launch of the drug in the US by well over a year.
Pfizer Inc and Ranbaxy Laboratories Ltd on Friday won dismissal of a U.S. antitrust lawsuit accusing them of conspiring to delay sales of generic versions of the best-selling cholesterol drug Lipitor.
The generic products company had challenged the patent and secured a six-month exclusive right to sell a low-cost version of the $10.7 billion medicine in the US market after the expiry.
Pfizer has won a patent challenge in Denmark by India's largest drug-maker Ranbaxy Laboratories on atorvastatin, the active ingredient of the world's largest selling cholesterol drug, Lipitor, which has global sales of over $13 billion.
The launch came after final approval from the US health regulator to manufacture the generic version of Lipitor at Ranbaxy's wholly owned Ohm Laboratories facility in New Brunswick, New Jersey, as well as market the product.
In a boost to Ranbaxy in its ongoing litigation over anti-cholesterol drug Lipitor (atorvastatin) against Pfizer, a Norway court today ruled that four of the US pharma giant's patents were either invalid or not infringed by the Indian company.
Ranbaxy's hope of a windfall from the $7-billion Lipitor market in the US is shining again. The US Food and Drugs Administration (USFDA) has taken a strong stance against US-based Mylan, which had opposed FDA's decision to allow approval to Ranbaxy's generic version of Lipitor.
In a development that might result in India's leading drug maker Ranbaxy selling a generic version of Pfizer's blockbuster drug Lipitor sooner than expected in the US market, the United States patent office has made an initial rejection of Pfizer's claim on the basic patent on Lipitor.
The upside for Ranbaxy Laboratories is likely to continue even as it loses its 180 days of marketing exclusivity for the Lipitor generic in the American market.
India's largest drug maker Ranbaxy Laboratories, which is fighting a patent battle with the world's largest drug maker Pfizer on the cholesterol lowering drug Lipitor in about 18 countries, got a mixed verdict from the Full Court of Federal Court of Australia.
In its ongoing patent litigation over cholesterol lowering drug atorvastatin (Lipitor) against India's Ranbaxy Laboratories, Pfizer said on Tuesday in a court in Ireland had ruled in its favour.
Mylan had sued the United States Food and Drugs Administration for providing the exclusive right to Ranbaxy, alleging the permission was given on the basis of 'falsified data'.
In a boost to India's biggest drugmaker Ranbaxy Laboratories Ltd, an Austrian panel has ruled in the company's favour in a patent litigation against Pfizer involving cholesterol lowering drug 'Lipitor' in that country.
Dr Reddy's Laboratories has succeeded in developing a copycat or generic version of Pfizer's Lipitor, the world's largest selling drug which has sales of over $10 billion.
The drug had generated sales of $600 million in the first six months of its launch in the US, as Ranbaxy had exclusive marketing rights for it.
Country's biggest drug maker, Ranbaxy Laboratories Ltd on Wednesday said a US Appeals Court has ruled in its favour in the patent infringement case with Pfizer for cholesterol-lowering drug Atorvastatin (Lipitor).
It had not been able to meet the deadline so far, though investigation into the matter was over, sources said.
The recall is the latest in a series of problems to hit Ranbaxy, which has had all its India factories stopped from sending drugs and ingredients to the United States.
Less than three months after roaring into us market with generic for cholesterol-reducing Lipitor, Dept of Justice files for permanent injunction against Ranbaxy.
In another setback to India's biggest drugmaker Ranbaxy Laboratories Ltd, a court in Finland has prohibited it from marketing its generic version of Pfizer's cholesterol lowering drug Lipitor in the country.
The company had stopped production of generic version of cholesterol lowering drug Lipitor last year as it investigated the issue of potential glass particles in certain lots of the drug.
An interview with Ranbaxy CEO and MD Arun Sawhney on the changes in the past four years and how the company plans to address the US concerns.
Close on the heels of a US district court ruling against its patent challenge of Pfizer's Lipitor, Ranbaxy Laboratories Ltd on Friday said it had entered into an out of court settlement with Cephalon Inc
A US court has ruled against Ranbaxy in its case for non-infringement and invalidation of two patents of its competitor Pfizer
The weakness in the stock was because of inspections by the American drug regulator at its Halol plant in Gujarat which resulted in eight observations, as well as a downward revision of speciality drug payoffs.
FDA inspectors visited the Mohali plant in the process of giving approval to Ranbaxy's application for Valsartan.
Drug major Ranbaxy Laboratories on Thursday said it plans to launch more generic products in the US market with possible marketing exclusivity, while keeping options open for overseas acquisitions to grow its business in various global markets.
The deal would involve Pfizer paying with 11.3 of its shares for each Allergan share.
Ranbaxy, which is 63.5 per cent-owned by Japan's Daiichi Sankyo Co and gets more than 40 per cent of its sales from the United States, did not immediately respond to a request on Wednesday for comment on the FDA observations.
Ranbaxy's US factory, Ohm Laboratories, is learnt to have got a clean chit from the American regulator. This US facility was under surveillance of the Food and Drug Administration (FDA) since the end of 2012.
Ranbaxy did its maiden public issue in 1973.
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