Business Daily from THE HINDU group of publications
Wednesday, Apr 01, 2009
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Business Daily from THE HINDU group of publications Wednesday, Apr 01, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Outlook Marketing - Channels and Franchises Web Extras - Pharmaceuticals
Our Bureau New Delhi, March 31 Ranbaxy Laboratories Ltd on Tuesday announced that it will launch a drug for high blood pressure discovered by Daiichi Sankyo. This follows a licensing agreement between the two companies authorising Ranbaxy to promote and market the drug — Olvance — in India. This is first drug from the Daiichi Sankyo’s stable to be marketed in India after it acquired a controlling stake in Ranbaxy. Mr Malvinder Mohan Singh, Chairman, CEO and Managing Director, Ranbaxy, said, “The launch of Olvance is a historic moment in the collaboration between Ranbaxy and Daiichi Sankyo. This marks the beginning of a productive engagement that will harness the respective strengths of Daiichi Sankyo and Ranbaxy to establish a much stronger platform for Ranbaxy in India.”
Mr Takashi Shoda, President & CEO of Daiichi Sankyo, said, “We are delighted with the introduction of Olvance in the Indian market by Ranbaxy, signifying our serious commitment to India. Olmesartan Medoxomil is a superior antihypertensive medicine that will offer an excellent therapy option to the doctors and patients in India. This marks our intent to scale up our innovative product introductions, in India, through Ranbaxy.” Meanwhile, Daiichi Sankyo said that it was planning to meet the United States Food and Drug Administration to clear the issues related to Ranbaxy’s manufacturing plant in Paonta Sahib. The USFDA has banned imports from the generic drug maker’s Paonta Sahib plant and halted reviews of drug applications from it, accusing it of falsifying test results submitted in approved and pending drug applications. More Stories on : Outlook | Channels and Franchises | Pharmaceuticals | Ranbaxy Laboratories Ltd
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