Mumbai: Ranbaxy Pharmaceuticals Inc., the US arm of India’s largest drug maker, said on Tuesday that it has entered into an in-licensing agreement with Alembic Pharmaceuticals Ltd to exclusively sell the generic version of Pfizer Inc.’s anti-depression drug Pristiq in the US.
Pristiq had total sales of $590 million in the 12 months ended January in the US, according to market researcher IMS Health.
Ranbaxy will sell the drug supplied by Alembic in the US, and both the companies will share the profit, according to the licensing deal.
Alembic has received the US Food and Drug Administration’s approval to export the product to the US. Ranbaxy expects the drug to be available in the US from the ongoing quarter.
On Tuesday, Alembic rose 15.2% to Rs.92.20 and Ranbaxy Laboratories Ltd gained 2.49% to close at Rs.391.05 on BSE, while the benchmark Sensex advanced 1.4% to end at 19,143.17 points.