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 per cent from their previous close.
