Ranbaxy Laboratories today said it has received approval from the US health regulator to sell generic Alzheimer's disease drug donepezil hydrochloride in the American market with 180 days of exclusive marketing rights.
The company will be eligible to enter the US market with its generic version of Eisai Co's Aricept, the patent for which will expire in November this year.
"We are pleased with (US) Food and Drug Administration's ...Decision of upholding Ranbaxy's sole eligibility to 180 days of marketing exclusivity for its generic version of Donepezil," a company spokesman said.
Buoyed by the approval, the shares of Ranbaxy soared 6.35 per cent to hit a year level high of Rs 566. The scrip later ended at Rs 561.95, higher by 5.59 per cent.
Broader market was also firm and the BSE benchmark ended at 20,001.55, up 95.45 points.