Leading drug maker Ranbaxy's US subsidiary Ohm Laboratories Monday said that it has received the US Food and Drug Administration's (FDA) permission to market Metformin Hydrochloride tablets that are used for treating diabetes.
The Florida-based Ranbaxy Pharmaceuticals, which is a wholly-owned subsidy of Ranbaxy Laboratories, informed the Bombay Stock Exchange (BSE) Monday that it was given the approval to market Metformin Hydrochloride tablets in multiple strengths of 500 mg, 850 mg and 1,000 mg in the US market through Ohm Laboratories.
Ohm Laboratories was set up jointly by Ipca Laboratories and Ranbaxy Pharmaceuticals. Ipca Laboratories, which is setting up a new manufacturing unit at Indore, would manufacture Metformin Hydrochloride in India, the information given to the BSE said.
According to industry data, the annual US sales of the drug stand at $379 million.