Morepen Files Patents For Fluvastatin Sodium

New Delhi, May 21: | Updated: May 22 2003, 05:30am hrs
Morepen Laboratories has filed international process and product patents for the drug Fluvastatin Sodium. This is the tenth patent filed by Morepen and the fourth in a period of less than a year.

Fluvastatin is a cholesterol-lowering drug and has an estimated market size of Rs 2,400 crore globally that is growing at 25 per cent annually. Morepen is the only generic manufacturer of this product worldwide. Since the patent expiry of the product is by the end of this year, the company has said that a number of Canadian and European customers are working with them to launch the generic version after the patent expiry.

Morepens chairman and managing director Sushil Suri said that, Morepen is the only player of Fluvastatin. This block-buster molecule will result in good revenues for the company in the near future owing to an early patent expiry, thus contributing to the bottomline of the company.