Commenting on the development, Ranbaxy Inc Trade Sales Vice President Dan Schober said: "The product will be manufactured at Ohm Laboratories, in our US facility located in New Brunswick, New Jersey and launched immediately thereafter."
Drug firm Ranbaxy Laboratories has received approval from the US health regulator to manufacture and market Fenofibrate capsules used for lowering high cholesterol and triglyceride levels in the blood.
"Ranbaxy Laboratories Ltd...has received approval from the U S Food and Drug Administration (USFDA) to manufacture and market Fenofibrate capsules USP, 43 mg and 130 mg," the company said in a statement.
Commenting on the development, Ranbaxy Inc Trade Sales Vice President Dan Schober said: "The product will be manufactured at Ohm Laboratories, in our US facility located in New Brunswick, New Jersey and launched immediately thereafter."
As per the IMS health September 2014 data, total annual market sales for Fenofibrate Capsules USP, 43 mg and 130 mg were USD 56 million, Ranbaxy Laboratories said.
"Fenofibrate Capsules are indicated for primary hypercholesterolemia and mixed dyslipidemia. In addition, it is indicated for severe hypertriglyceridemia," it added.
Shares of Ranbaxy laboratories today closed at Rs 654.15 per scrip on BSE, up 2.03 percent from their previous close.
Ranbaxy Labs stock price
On November 05, 2014, Ranbaxy Laboratories closed at Rs 654.15, up Rs 13.00, or 2.03 percent. The 52-week high of the share was Rs 667.30 and the 52-week low was Rs 306.05.
The company's trailing 12-month (TTM) EPS was at Rs 20.93 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 31.25. The latest book value of the company is Rs 25.84 per share. At current value, the price-to-book value of the company is 25.32.
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