New Delhi: Drug major Ranbaxy Laboratories on Monday said it has launched generic Olanzapine tablets, used in treating central nervous system disorders in Spain.

The company said Olanzapine tablets in multiple strengths of 2.5 mg, 5 mg, 7.5 mg and 10 mg and also orodispersables in the strengths of 5 mg and 10 mg were launched immediately on the day of patent expiry.

Zyprexa is the innovator product of Eli Lilly and has a market size of USD 210 million, Ranbaxy said citing IMS Data for 2010.

The generic alternative will bring about significant savings for patients and the Spanish Health System which has been encouraging generic prescription as a means to make healthcare affordable, he added.

Olanzapine is an atypical antipsychotic, and is indicated for the treatment of schizophrenia in adults. It is also indicated for the treatment of moderate to severe manic episodes and bipolar disorders.

Ranbaxy established operations in Spain in 2004 and offers a wide array of pharmaceutical products that cover therapy areas such as gastrointestinals, cardiovascular, CNS and antibiotics.

A member of the Daiichi Sankyo Group, Ranbaxy is present in over 125 countries.

Shares of Ranbaxy today closed at Rs 474.40 on the Bombay Stock Exchange, up 1.31 per cent from its previous close.