Morepen Laboratories Ltd, the largest generic manufacturer of loratidine, is set to make significant gains from the approval of Claritin (loratidine) as an over-the-counter (OTC) allergy drug product in the US market. Previously available only as a prescription drug in the US, Claritin has now been approved for seasonal allergic rhinitis.
The antihistamine drug the fourth largest selling drug in the world with sales crossing $3.3 billion. Morepen is the only company in India that has a US FDA approval for manufacturing the drug at its plant in Parwanoo. According to sources, the company hopes to achieve a turnover of at least Rs 200 crore from the drug in the first year itself.
