Ranbaxy Laboratories announced that it has launched the generic version of Novartis’ cancer drug Femara in 3 European Union countries. The subsidiary of Japan’s Daiichi Sankyo said that it has launched letrozole on day 1, that is the first day after the patent on the drug expired.
Ranbaxy Laboratories will start selling the generic version of Norvasc, a drug sold by Pfizer Inc and is used to treat hypertension and angina (a heart condition). The drug’s generic name is amlodipine besylate. Ranbaxy said that the Canadian market for amlodopine besylate is CAD $456mn or Rs 2014 crore (1CAD=Rs 44.2). Ranbaxy’s launch is thanks to the European pharmaceutical company, ratiopharm of Germany.
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The open offer by Daiichi Sankyo to Zenotech Laboratories’ shareholders will not open today, as scheduled. The Chennai High Court (Madurai Bench) has granted an interim injunction in connect with the offer, said ICICI Securities, the manager to the offer, in a filing to the Bombay Stock Exchange.