Ranbaxy finally receives permission, for its anti-allergic drug

Ranbaxy Labs
India`s biggest pharmaceutical company, Ranbaxy Laboratories Ltd has announced that it has received final approval from the US Food and Drug Administration (USFDA) to manufacture and market Cetrizine Hydrochloride Tablets (OTC), in 5 mg and 10 mg doses.

Cetirizine hydrochloride is a generic version of Pfizer's Zyrtec tablets of the same strengths. It is used for temporary relief from running nose, sneezing, itching of the nose or throat, and itchy. The drug is also effective in treatment of watery eyes due to hay fever or other upper respiratory allergies, company stated in a release.

Jim Meehan, Vice President of Sales and Distribution for Ohm Laboratories Inc, a wholly owned subsidiary of the Ranbaxy Laboratories said, "We are pleased to receive this final approval for Cetrizine Hydrochloride Tablets (OTC) 5mg and 10mg, that has proven its clinical value and utility in both adults and children.”

Sources said, the total annual sales for Cetirizine Hydrochloride Tablets as a prescription only product were US$1.3bn (IMS - MAT: September 2007).

Ranbaxy Laboratories presently holds market cap worth Rs. 15,890 crore. The stock closed today at Rs. 425 on NSE, up by 2% compared with previous close of Rs. 416. It touched an intraday high of Rs. 429 and low of Rs. 415.