Three Indian pharmaceutical companies-two of them Hyderabad-based, have secured the approval to sell Rizatriptan Benzoate Orally Disintegrating Tablets used for the treatment of migraine in the US.
While Natco Pharma Ltd (NPL) has already begun the shipment of the product which has an estimated market of $250 million-$271 million, Aurobindo Pharma Ltd said the product was ready for launch. Both are based in Hyderabad.
Another company to get the approval of USFDA for the same product was Glenmark Generics Inc, USA, the US subsidiary of Glenmark Generics Ltd and GGL said the shipping would start forthwith.
Aurobindo put the yearly sale of the product at approximately $271 million for the 12 months ending April 2013 as per IMS.
Natco said it had received marketing approval for Rizatriptan Benzonate (Maxalt-MLD) orally disintegrating tablets, 5 mg and 10 mg (base) and it has already begun shipments of the product that was being launched by its marketing partner Breckenridge Pharmaceuticals. Natco estimated the market for the product to be about $250 million (before generic launch-as of Dec 2012).
Glenmark Generics Ltd, which is a subsidiary of Glenmark Pharmaceuticals Ltd (GPL), said the approval was for the 5 mg and 10 mg ODT which was its generic version of the Merck's Maxalt.
Shares of Natco Pharma gained Rs 6.70 to trade at Rs 456.10 (share face value Rs 10) on the BSE while Aurobindo Pharma lost 5 paise to trade at Rs 186.85 (share face value Re 1). Glenmark Pharma was up by Rs 6.25 to Rs 574.80 (share face value Re 1) on the BSE at around 1 p.m.