The drug is licensed to Ranbaxy Laboratories from Cipher Pharmaceuticals Inc of Mississauga, Ontario. It is currently protected by two issued patents listed in the FDA's approved drug products list, which expire in September 2021, the company said in a statement.
"Ranbaxy Laboratories Inc, the wholly-owned subsidiary of the company has received a Paragraph IV certification notice of filing from Watson Laboratories Inc of an abbreviated new drug application (ANDA) to the US Food and Drug Administration (USFDA) for a generic version of Absorica," it said.
As per the regulatory norms in the US, a generic firm can file an abbreviated new drug application (ANDA) challenging patent of drug under Paragraph IV certification, which if successful, gives the challenger 180 days of marketing exclusivity to market the generic drug.
After the Para IV notice, the branded company has 45 days to file a patent infringement action against the generic company.
Once the suit has been filed, the FDA cannot approve of the application until the generic company successfully defends the suit or until 30 months, whichever comes first.
"Ranbaxy Laboratories Inc (RLI) and Cipher intend to vigorously defend Absorica's intellectual property rights and pursue all available legal and regulatory pathways in defence of the product," the company said.
Meanwhile, shares of Ranbaxy Laboratories were quoting at Rs 327.15 apiece on the BSE in late afternoon trade today, down 6.66% from the previous close.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
)