Cipla has received approval for the generic version of the drug called Xopenex, which is used for asthma. Cipla is the third or the fourth generic company to enter into this space within the US markets.
This approval comes as a big positive for Cipla since they have not been receiving USFDA approvals very frequently.
However, it is important to note that it is a limited opportunity drug. As of December 2012, the drug sales were estimated to be around USD 439 million and therefore this means, once Cipla enters the market it could possibly gain around USD 20 million in terms of sales for FY15 which in turn would contribute to around 3 percent profitability in FY15.
Also read: GSK Pharma to perform even post open offer; hold: Edelweiss
Ranbaxy too has received USFDA approval for a particular drug called Plendil generic, which is used for hypertension. Ranbaxy was expected to be the authorised generic for this particular drug, but it is already genericised and there are already 6-7 players in this market for this particular drug. So the opportunity is completely diluted and they will make only around USD 1-2 million from this particular drug.
For Ranbaxy this is the first approval that they have received from the USFDA after year and half to two years, after the Lipitor generic received approval. So, this is a big shot in the arm for Ranbaxy, because there was a lot of uncertainty on whether the USFDA approvals for them had slowed down. However, this gives some clarity and hope that some of their bigger drugs would also see the light of day and that was the main reason for the stock price movement.
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