TOKYO, March 12 (Reuters) - Daiichi Sankyo (4568.T), Japan’s third-largest drugmaker, said on Friday it expects U.S. regulators to remove all import bans on generic drugs made by its Indian subsidiary Ranbaxy Laboratories RANB.BO by 2012.
“Because of the U.S. import bans we have been unable to achieve the synergies we had planned. This will be our key challenge in the next three years,” Daiichi Sankyo president Takashi Shoda told a news conference.
He added that Daiichi Sankyo had dispatched a quality control executive to Ranbaxy in January as part of efforts to win back U.S. approval of Ranbaxy’s manufacturing process.
Ranbaxy said on March 3 it would be unable to launch a generic urinary drug as scheduled in the absence of final regulatory approval. Ranbaxy was previously expected to be one of the first few generic drug makers to launch a copy version of Flomax, which could have made a major earnings contribution during the 180-day exclusive marketing period. [ID:nSGE622079]
Reporting by Yumiko Nishitani