Ranbaxy reports decrease of net sales in Q1

GURGAON, India Indian generic drug maker Ranbaxy Labs reported a decrease in net sales of 4% in first-quarter 2009 financial results released Friday.

The company had consolidated net sales of $313 million, including sales in developed countries of $122 million – 6% less than last year – and sales in developing countries of $168 million, a 2% decrease.

Still, the company had some positive news to report. It launched the hypertension treatment Olvance (olmesartan) in India, the first product it has launched from parent company Daiichi Sankyo. It also launched a generic version of  GlaxoSmithKline’s migraine headache drug Imitrex (sumatriptan) 100 mg tablets in the United States, receiving six months of market exclusivity as the first company to launch a generic version of the tablets.