PRINCETON, N.J. Ranbaxy will appeal a Canadian court ruling that stopped the company from launching a generic version of Pfizer’s cholesterol drug Lipitor.
The decision will hold Ranbaxy from launching the generic until the patent expires on the brand in 2016. The company in a statement said that, “Ranbaxy will appeal this decision and remains confident in its position.”
The company was looking to tap into Canada’s market for Lipitor, which has estimated sales of $800 million there. Ranbaxy, though, is still focused on other areas of the globe such as the U.S., Western Europe and Japan, which according to Vihari Purushothaman, a pharmaceutical analyst for Enam Securities, represents about 90 percent of the global market.