After successfully monetising the generic Lipitor opportunity and maintaining a 45-50% share, Ranbaxy Laboratories is now banking on its generic version of the diabetes drug Actos.
The Gurgaon-based pharmaceuticals company launched an off-patent version of the drug Actos on August 17.
Ranbaxy’s CEO and MD, Arun Sawhney, in a conference call with analysts after its third quarter results for the current fiscal, said the company has managed to garner a share of 28% in the Actos market as of September.
The company’s financial year runs from January to December.
“We are monetising this opportunity like we had in the past on other drugs. Despite the presence of the innovator and another generic players ,we have managed to gather decent share.”
Ranbaxy, along with US generic players Mylan and Watson Pharma, was the first to successfully challenge the patent on Actos held by Japanese player Takeda Pharma, making all three of them eligible for 180 days of marketing exclusivity under the US laws.
Under a patent settlement, Takeda had in 2010 granted Ranbaxy, Mylan and Watson licences to enter the US market with their generic versions of Actos in August.
Actos (pioglitazone hydrochloride) has annual sales of $2.7 billion in the US, as per data by market intelligence firm IMS Health.
Analysts have predicted Ranbaxy to garner about $200-210 million in sales during the six-month exclusivity.
US is key for Ranbaxy and the company gets close to one-third of its revenues from that market.
“We are seeing double-digit growth from global markets including the US,” said Sawhney.
The company raked in over $600 million and enjoyed a 55% share on the generic version of the cholesterol reducing drug Lipitor during the exclusivity period, which ended in May.
Analysts, however, said apart from its exclusivity opportunities, there is not much to rejoice about for Ranbaxy.
Sarabjit Kour Nangra, senior VP (research), Angel Broking, said, “It’s mainly due to its exclusivities on products like Lipitor and Valtrex in the past that the company has been seeing some decent business from the US.”
Experts said till its problems with the US FDA, which had pulled up the company over irregularities in its manufacturing plants in Paonta Sahib and Dewas in India, are completely sorted out, the US will continue to remain a bit bleak.