Ranbaxy Laboratories Ltd has won 180 days of exclusive rights to sell a generic form of GlaxoSmithKline’s Valtrex in the United States after resolving a patent row, sending its shares up as much as 10 per cent on Thursday.
The country’s biggest drug maker by sales expected strong gains after resolving the patent litigation with Glaxo, and also expected to win similar exclusive rights for at least one drug every year for the next four years, chief executive officer Malvinder Singh said.
“There is a very big upside. It is a $1.3 billion product today and growing at the rate of 20%,” Singh said of Valtrex, which is used to treat herpes infections.
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