Ranbaxy Labs - Cholesterol Drug

Ranbaxy Laboratories will soon launch a generic version of Abbott’s cholesterol lowering medicine 'Tricor' after the latter decided to settle a patent litigation case against Ranbaxy. This would add several million dollars to Ranbaxy’s revenues. However, the terms of the settlement were not disclosed and were kept confidential. Abbott generates about $1 billion in annual sales by selling fenofibrate under the brands Tricor and Triplix in American market alone.