Ranbaxy Labs Says it Will Sell Generic Pristiq
Ranbaxy Laboratories Ltd. said Tuesday it will start selling a generic version of Pfizer Inc.'s antidepressant Pristiq before the end of March.
The Indian drugmaker said it acquired the U.S. rights to a generic developed by Alembic Pharmaceuticals.
Pfizer said the Ranbaxy product won't be a generic equivalent of Pristiq, however. It said it is "an alternative form of the active ingredient."
Pristiq, or desvenlafaxine, was approved in February 2008. U.S. sales grew 4 percent to $493 million in 2012. The first patents protecting the drug are scheduled to expire in February 2022 and Pfizer says another patent will last until 2027.
Shares of the New York drugmaker rose 42 cents to $28.11 in afternoon trading.