Ranbaxy restarts production of generic Lipitor for US market
"We are working with the USFDA, and have identified and implemented multiple corrective and preventive actions," Ranbaxy said.
NEW DELHI: Days before it is scheduled to announce its annual results, Ranbaxy Laboratories BSE 3.44 %has resumed production of generic Lipitor for supply to the US market. This comes almost three-and-half months after it recalled the drug from the American retail market as it feared some of its drugs may be containing tiny glass particles.
Ranbaxy, which had halted production of the drug and stopped shipments to the US market, is likely to inform the stock exchange on Monday about restarting production of generic Lipitor for the US market.
"We are working with the US Food and Drug Administration, and have identified and implemented multiple corrective and preventive actions," Ranbaxy's US spokesperson told an agency. "As part of the first step in initiating the manufacturing process to resume supplies to the US market, we have commenced the production of the drug substance for our generic Lipitor product," he added.
The drug, analysts estimate, earned close to $50 million in the Q3 of 2012 and Ranbaxy expected to rake in at least $20-25 million in the Q4 had the recall not happened. The resumption of supplies comes even as the company contests a class suit filed by a group of consumers in a US court, urging it to conduct a wider recall of the drug.