Indian pharmaceutical major, Ranbaxy Laboratories has said that it has received approval from the U. S. Food and Drug Administration to launch Absorica in the country.
The patented acne treatment drug, Absorica has been developed by Canadian firm Cipher Pharmaceuticals. Ranbaxy announced that it will is planning to launch Absorica in the U. S. in the fourth quarter of 2012 through a business agreement with Cipher.
Cipher said in a statement that it will receive $9 million milestone from Ranbaxy and further royalties on net U. S. sales. It also said that it will also be eligible for future milestone payments based on sales targets.
The drug generates BOUT $500 million in the US markets and assuming that the company gets a 20-25 per cent market share, it might generate $120-160 million in revenues in the country. The company might also earn $40 million in sales from this product in calendar year 2013.
Ranbaxy America's Senior Vice-President and Regional Director Venkat Krishnan said that the drug is important milestone in the company's commitment to serve the dermatology community. He also said that the drug will be Ranbaxy's specialized dermatology sales force in the country.
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