Ranbaxy Lab gains on launching generic drug in US

Launched the authorized generic cevimeline hydrochloride capsules in US under an agreement with Daiichi Sankyo, Inc

Ranbaxy Laboratories is trading higher by 2% at Rs 539 after the pharmaceutical company said said its wholly owned subsidiary has launched the authorized generic cevimeline hydrochloride capsules in United States under an agreement with Daiichi Sankyo, Inc. "Cevimeline hydrochloride is indicated for the treatment of symptoms of dry mouth associated with Sjogren's syndrome, an autoimmune disorder affecting the moisture-producing glands, and is presently distributed by Daiichi Sankyo, Inc. under the brand name Evoxac," Ranbaxy Laboratories said in a statement. As per IMS Health data, Evoxac generated total annualized sales of $62.40 million in the United States, it added. The stock opened at Rs 529 and touched high of Rs 540 on the NSE. A combined 499,760 shares have changed hands on the counter so far on the NSE and BSE.