Ranbaxy Approved to Sell Generic Lipitor in the US

Ranbaxy won the approval to sell the drug, generic name atorvastatin, from the FDA after persuading the organisation that its version is equivalent to the original.

India's Ranbaxy Laboratories has been granted approval to manufacture and market its generic version of cholesterol-lowering drug Lipitor in the US.

The news comes a day after Pfizer's patent on the drug, which generated $100bn in sales for the company over the past decade, expired.

Ranbaxy won the approval to sell the drug, generic name atorvastatin, from the US FDA after persuading the organisation that its version is equivalent to the original.

The company will share profit on the first six months' sales of its drug with Israel's Teva Pharmaceutical Industries.