Ranbaxy Laboratories has firmed up after settling a patent dispute with Takeda Pharmaceutical Company regarding a generic version of the Japanese company’s diabetes drug, Actos, in the United States. India’s leading drug maker by sale is trading at the day's high of Rs 473, stronger by Rs 7 or 1.7%, on the BSE. The shares had opened at Rs 470 and have touched a low of Rs 467 thus far.
“Under the terms of the agreement, Takeda granted Ranbaxy a non-exclusive royalty-free licence to its US patents covering Actos,” Ranbaxy said in a statement.
The agreement allows Ranbaxy to market a low-cost version of Actos in the US starting from August 17, 2012 – almost 19 months after the basic patent over Actos expires in the US on January 17, 2011.
Ranbaxy has preferred the low risk patent settlement route ever since Daiichi Sankyo, the Japanese drug multinational, picked up a majority stake in the company.
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