Ranbaxy Laboratories, the country's largest pharmaceutical company by sales, on Wednesday announced that it had signed a licensing and supply agreement that will make it the first Indian company to market a licensed generic product in Canada.
The agreement has been signed between Ranbaxy's wholly owned subsidiary, Ranbaxy Pharmaceuticals Canada Inc, and Janssen-Ortho Inc for a generic version of risperidone compressed tablets to be sold under Ranbaxy's label, Ran(tm) Risperidone.
Johnson & Johnson held a patent on risperidone and sold it under the trademark, Risperdal. The patent expired this month.
The product is classified as a psychotherapeutic drug indicated for the management of manifestations of psychotic disorders.
As a consequence of this agreement, Ran(tm) Risperidone becomes available through pharmacies and wholesalers in Canada.
Bill Abboud, president and general manager of Ranbaxy's Canadian subsidiary, said the agreement would provide Ranbaxy with an opportunity to commercialise products that had been shown to have a favourable impact on patients and allow the company to reinforce its presence in Canada.
Ranbaxy Pharmaceuticals Canada is engaged in the sale and distribution of generic medicines in the Canadian healthcare system.
According to a company statement, it is the first India-based pharmaceutical company with a branded presence in Canada, which happens to be the eighth largest pharmaceutical market in the world.
Ranbaxy is present in as many as 125 countries with a portfolio of affiliates, joint ventures, alliances and ground operations in 49 countries, and manufacturing operations in eight.
