Ranbaxy gets Canada's nod to market cholesterol drug

Drug maker Ranbaxy Laboratories said on Tuesday it has received final approval from the Canadian drug regulator Therapeutic Products Directorate to manufacture and market its drug for lowering cholesterol in the North American country.

The company's Canadian subsidiary Ranbaxy Pharmaceuticals -- Canada Inc has received final approval from TPD to manufacture and market Ran-Simvastatin tablets, the Gurgaon-headquartered pharma major said in a statement.

The approval for Ran-Simvastatin tablets, which are used as a lipid metabolism regulator, is in the strength of 5, 10, 20, 40 and 80 mg.

"We look forward to marketing this organically developed product in all strengths that will be commercialised at an affordable price ...," RPCI president Paul Drake said.

"We plan to launch Ran-Simvastatin in (September)," Drake added.

According to the company, the total generic market size of Simvastatin in Canada is Canadian $153 million (about Rs 666 crore).

On Monday, Ranbaxy said it has received final approval of the TPD to manufacture and market 'Ran-Amlodipine tablets', used in treating hypertension.

Shares of Ranbaxy were trading at Rs 265.60, down 1.25 per cent in afternoon trade on the Bombay Stock Exchange.