Ranbaxy Laboratories  has secured the U.S. drug regulator’s approval to sell its low-cost version of the world’s best selling drug Lipitor in the U.S, Economic Times reported. 

U.S. Food and Drug Administration said, “Ranbaxy Laboratories has gained approval to make generic atorvastatin calcium tablets in 10 milligram, 20 mg, 40 mg and 80 mg strengths.”

The FDA also stated that the drug will be manufactured by Ohm Laboratories in New Brunswick, New Jersey.  The pharmaceutical company said a portion of the profit from the generic atorvastatin drug would be given to Teva Pharmaceuticals USA Inc.  

The approval for New Delhi-based pharmaceutical company to make a low-cost version of the best-selling drug of all time came on the same day Watson Pharmaceuticals Inc launched an authorized version of Lipitor.

The world’s best selling drug Lipitor became available in 1997. It generated annual sales of $13 billion at its peak. It lowers bad LDL cholestrol and the risk of heart attack and stroke.

Ranbaxy Laboratories Ltd is a pharmaceutical company incorporated in 1961. The company exports its products to 125 countries with ground operations in 46 and manufacturing facilities in seven countries.

 In June 2008, Daiichi Sankyo bought a 34.8% stake in Ranbaxy for a value of $2.4 billion.