After launching the generic version of Lipitor in the US, Ranbaxy Laboratories is now eyeing a major share of the world's largest selling drug.
Speaking at an internal event for employees recently, Mr Arun Sawhney, CEO and Managing Director, Ranbaxy said, “It is my belief that we should be the Lords of Atorvastatin globally. Do we have the power and capability? Yes. Have we demonstrated that? Yes, we have the largest Atorvastatin brand in India; in Finland we have a 60-65 per cent market share; and we were the first to launch in South Africa. We have also launched in the Ukraine and Romania. If we are successful in these countries, we will be successful anywhere.”
Lipitor, chemically known as Atorvastatin, is the largest selling drug with global sales of over $10 billion in 2010. Until now, Pfizer was the only pharmaceutical major selling the drug in the US. But in 2008 it signed an agreement with Ranbaxy under which the Indian company was able to launch the drug in the US last week with a 180-day exclusivity period.
“When it is a competitive world, it is my hunch that even beyond the 180-day period, Ranbaxy will remain the dominant generic Atorvastatin player in the US,” Mr Sawhney said, intensifying the battle with Pfizer and other US drug makers who plan to launch the drug. Pfizer had earlier said that it would keep one-third of the market share.
Describing the events that developed around the launch of generic Lipitor in the US, Mr Sawhney said that it was nothing short of a thriller. “In 2002 Ranbaxy filed its ANDA beating all other companies. Then a series of events took place, we were sued, and then we won the battle. The year 2008 was very critical when we settled with Pfizer,” he said.
According to analysts, Ranbaxy can expect to get about $500 million from the drug, but pricing is the key. Ranbaxy plans to manufacture the drug at its plant in New Jersey. “The site is ready to take care of not just launch quantities but post-launch quantities too,” he said.