Ranbaxy to market antidepressant drug

PRINCETON, N.J. — Ranbaxy Labs will market a drug for depression under an agreement with another company, the drug maker said Tuesday.

Ranbaxy said it had entered an in-licensing agreement with Alembic Pharmaceuticals to market desvenlafaxine base extended-release tablets. Alembic is the sponsor of a new drug application filed with the Food and Drug Administration for the drug, which is bioequivalent to Pfizer's Pristiq. Pristiq had sales of $590 million during the 12-month period that ended in January.

"Ranbaxy is pleased to partner with Alembic to offer a safe, effective, affordable generic alternative to the brand formulation much ahead of the patent expiration," Ranbaxy VP trade sales and distribution for North America Bill Winter said. "We are committed to expand our portfolio of products offered in the U.S. market for the benefit of patients, prescribers and the U.S. healthcare system."