Mumbai: Ranbaxy Australia Pty. Ltd, the Australian subsidiary of Indian drug maker Ranbaxy Laboratories Ltd., has launched the first generic version of the world’s largest selling drug Lipitor in Australia, the company announced on Tuesday.
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The drug maker which obtained rights to sell the generic version of Atorvastatin in December, which Pfizer Inc. sells under the brand name Lipitor, said that this is the most prescribed statin in Australia. The current market size for the cholesterol reducing drug is $680 million.
“This continent is an important market for Ranbaxy, which entered the Australian market in November 2006,” it said in a statement.
The managing director of Ranbaxy Australia, Alex Evans said, “Ranbaxy is privileged to be the first generic company in Australia to introduce Atorvastatin under the brand name, ‘Trovas.’”
Earlier in December, Ranbaxy received approval to sell the drug in the US, which was set to give the Indian drug maker sales of $400-600 million over six months. In 2010, Lipitor had sales worth $12.65 billion, according to IMS Health data, making it the highest selling drug in the world.