Ranbaxy Laboratories, on Jul. 30, 2007, announced that its first Authorized Generic (AG) product, Isoptin SR (Verapamil Sit)  will be commercially available  in the US market. The product will be made available through its wholly owned subsidiary, Ranbaxy (Q, N,C,F)* Pharmaceuticals (RPI), following an agreement with FSC Laboratories, of Charlotte, North Carolina, USA.

Verapamil, a calcium ion antagonist, is indicated for the management of  hypertension and angina. The generic market for Verapamil  is worth USD 122.2 million with limited competition primarily from 2 other players.

K Venkatachalam, vice president & regional director, North America, Ranbaxy, said, ``The commercialization of Isoptin SR heralds Ranbaxy`s entry into the Authorised Generics space. Isoptin SR, a niche value added formulation, also enhances our New Drug Delivery systems (NDDS) capability and our efforts with other molecules, to improve patient compliance.``

Florida based, Ranbaxy Pharmaceuticals (RPI), is a wholly owned subsidiary of Ranbaxy Laboratories. RPI is engaged in the sale and distribution of generic and branded prescription products in the U.S. healthcare system.

Shares of the company closed down Rs 1.80, or 0.48%, at Rs 376.70. The total volume of shares traded was 488,789 at the BSE (Monday).