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Wednesday April 25, 7:17 PMRanbaxy shares up 5.7 pct on US pravastatin nodMUMBAI, April 25 (Reuters) - Shares of India's Ranbaxy Laboratories Ltd. rose 5.7 percent to their highest in two months after the drug maker said it had approval from U.S. authorities to manufacture and market pravastatin sodium tablets.Ranbaxy said on Wednesday it had been granted 180-day market exclusivity in the U.S. healthcare system for the 80-mg dosage of the drug, which is used to treat cardiac diseases. The 80-mg tablet had annual sales of $209 million, while the market for all dosages of the drug was $1.19 billion a year, Ranbaxy said in a statement. Pravastatin is the generic version of Bristol-Myers Squibb's cholesterol-fighter Pravachol. Ranbaxy's shares rose as much as 6.3 percent to an intra-day peak of 371 rupees and closed at 369.10 rupees, while the benchmark index of the Bombay Stock Exchange rose 0.6 percent. |
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