Mumbai: Pharma major Ranbaxy Laboratories today said it has received approval from Canada’s Therapeutic Products Directorate (TPD) to manufacture and market Ran-Pravastatin, used to reduce cholesterol.
The approval for tablets, in multiple dosages of 10 mg, 20 mg, and 40 mg, would open up the market for Pravastatin in Canada, which is valued at 72.9 million Canadian dollars (Rs272 crore) annually, the company told the Bombay Stock Exchange (BSE).
“We are pleased to receive this approval for Ran- Pravastatin to expand the number of product offerings that Ranbaxy commercialises in Canada. We estimate the product being available by June to all classes of trade,” said Paul Drake, President and General Manager of Ranbaxy Pharmaceuticals Canada Inc (RPCI), a wholly-owned subsidiary of the Indian drug major.
Based in Ontario (Canada), RPCI is engaged in the sale and distribution of generic prescription products in the Canadian healthcare system.
Pravastatin is indicated as an adjunct to diet for the reduction of elevated total and low density lipoprotein cholesterol levels in patients.
Shares of Ranbaxy were last trading at Rs398, up 0.5%, on the BSE.