India's biggest drugmaker Ranbaxy Laboratories Ltd today said it had entered into a licensing and supply agreement with Janssen-Ortho Inc (JOI) for a generic version of Risperidone compressed tablets in the Canadian market.
The agreement was signed between Ranbaxy's wholly owned subsidiary, Ranbaxy Pharmaceuticals Canada Inc (RPCI) and Janssen-Ortho Inc (JOI), the company said in a statement here.
"This agreement will provide Ranbaxy with an opportunity to commercialise products that have been shown to have a favourable impact on patients and allow Ranbaxy to reinforce its presence in Canada," RPCI President and General Manager Bill Abboud said.
The generic version of Risperidone, a psychotherapeutic drug is sold under Ranbaxy's label, Ran Risperidone, it said.
The Canadian patent for Risperidone expired in July and Ran Risperidone is now available through pharmacies and wholesalers, it added.
The company is the first Indian firm to market a licensed generic product in Canada.
RPCI is a wholly owned subsidiary of the company and is engaged in the sale and distribution of generic medicines in the Canadian healthcare system.
The shares of the company closed at Rs 325.90, up 0.59 per cent at the BSE.