New Delhi: Ranbaxy Laboratories on Tuesday said it has launched generic versions of Atorvastatin tablets, used for treating cholesterol, in Italy, Sweden and Netherlands.
In accordance with an agreement with Pfizer, the company has introduced the product ahead of the applicable patent expiries, Ranbaxy said in a statement.
Pfizer's patent expires on May 8, 2012 in Italy and on May 6, 2012 in the Netherlands and Sweden.
Ranbaxy has launched the generic versions of Atorvastatin tablets in the strengths of 10 mg, 20 mg, 40 mg and 80 mg in Italy and Sweden, and in 10 mg, 20 mg and 40 mg strengths in the Netherlands after receiving regulatory approvals.
Ranbaxy Western Europe Regional Director Debashis Dasgupta said: "Ranbaxy is pleased to offer a generic version of the most prescribed statin, in Italy, the Netherlands and Sweden."
The company said that according to IMS MAT Dec 2011 data, Atorvastatin, the cholesterol reducing drug, is the largest selling pharmaceutical product in Italy with sales of USD 377 million.
The market size for Atorvastatin in the Netherlands is USD 164.4 million and in Sweden is USD 55 million and is the largest selling statin product in these two markets, it added.
"The company will be promoting the drug directly to all channel partners including retail pharmacies and wholesalers in Italy and the Netherlands," Ranbaxy said.
In Sweden, the company will offer the drug through the official pricing and reimbursement scheme covering generic medicines to all retail pharmacies.
Ranbaxy had recently launched Atorvastatin, a generic version of Lipitor, in the US market with 180 days of marketing exclusivity as it was a First-to-File applicant for the product.
Lipitor, Pfizer's blockbuster cholesterol lowering drug had sales of over USD 10 billion for the year ended September, 2010.
Shares of Ranbaxy were today trading at Rs 421.95 in the afternoon trade on BSE, up 1.05 percent from its previous close.