Ranbaxy cleared to market branded generic of Aricept in Canada

The Canadian subsidiary of Ranbaxy Laboratories (BSE: 500359) has received approval to manufacture and market RAN-Donepezil Hydrochloride 5mg and 10mg tablets, a generic version of Japanese drug major Eisai’s (TYO: 4523) Aricept, from Health Canada.

Total market size of Aricept in Canada is C$153.9 million ($145.2 million), according to IMS-CDH: November 2013, and growing at 38% (extended units). Donepezil is indicated in the treatment of dementia in Alzheimer’s patients.

“We are pleased to have gained approval for Donepezil Hydrochloride from Health Canada and are proud to announce a day one launch. The finished dosage form will be manufactured at Ohm Laboratories located in New Jersey, USA and Ranbaxy anticipates this launch will be beneficial to patients and healthcare professionals, as well as a positive economic benefit to the healthcare system of Canada,” said Paul Drake, president of Ranbaxy Pharmaceuticals Canada