January 2, 2007: Ipca - Ranbaxy Alliance receive U.S.FDA Marketing approval for Atenolol Tablets

Ipca Laboratories Ltd. (Ipca) had earlier announced strategic alliance with Ranbaxy Pharmaceuticals Inc. (Ranbaxy) based in Jacksonville, Florida (USA), a wholly owned subsidiary of Ranbaxy Laboratories Ltd., India's largest pharmaceutical company.

Under the strategic alliance, Ranbaxy has now received approval from U.S.Food and Drugs Administration to manufacture and market Atenolol Tablets USP 25 mg, 50 mg and 100 mg in the US market. Total annual market sales for Atenolol tablets in U.S. were US $ 133.6 million (IMS-MAT:September,2006).

Initially, Ranbaxy will manufacture and market this formulation in the US healthcare system from first quarter 2007, using Ipca's DMF approved Active Pharmaceutical Ingredient (API) - Atenolol. In future, Ipca will manufacture this formulation utlizing its facilities in India. Ipca is setting up a new formulations manufacturing facility meeting U.S. regulatory requirements at SEZ Indore with an initital capital outlay of approximately Rs.60 crores.

Ranbaxy will commercialise this product in the U.S. market utilizing its established marketing expertise and distribution network.

Ipca is one of the largest producer in the world of API Atenolol and holds its DMFs in various countries. Ipca is also marketing formulations of Atenolol in various markets such as CIS, Asia, Africa and Europe. This approval will further strengthen Ipca's global market share of this product.

This is the second such product approval received under the alliance from U.S. FDA after Furosemide tablets which was approved in September, 2006.

Ipca is a Mumbai based fast growing fully integrated Pharmaceutical Company engaged in the manufacturing and marketing of a range of pharmaceuticals world over with a strong thrust on exports. Ipca's exports to over 100 countries across the globe contributed about 53% of the Company's total income of Rs.753 crores in the financial year 2005-06.

Premchand Godha
Managing Director