In a setback, the US court has denied a request by drug-maker Ranbaxy Laboratories to stop competitors from launching copies of AstraZeneca Plc's heartburn pill Nexium and Roche’s antiviral Valcyte. Ranbaxy had sought the restraining order against Dr Reddy's Laboratories and US firm Endo International Plc in a lawsuit it filed  against the US Food and Drug Administration last week for revoking tentative approvals to launch Nexium and Valcyte copies in US. US District court has denied the same to Ranbaxy.
 
Commenting on the same Sarabjit Kour Nangra, vice president research, pharma, Angel Broking said, ''Nexium and Valcyte were expected to add about USD 180 million and USD 80 million to Ranbaxy's overall sales in the first six months of its launch, during the exclusivity period.

Earlier this month, the USFDA, revoked the tentative approvals for the both drugs citing that it had made an error in granting the company tentative approval to launch the drugs, given manufacturing quality lapses at Ranbaxy's India plants. Ranbaxy and the FDA have until Nov. 21 to submit a schedule for further proceedings in the case. We remain neutral on the stock.''

Shares of the company gained Rs 18.35, or 3.04%, to trade at Rs 621. The total volume of shares traded was 383,466 at the BSE (12.39 p.m., Thursday).