Ranbaxy Laboratories on Friday said it had received the United States Food and Drug Administration approval to manufacture and market Metformin HCL oral solution, a drug used by the diabetic patients.

The company will market the drug used as monotherapy as an adjunct to diet and exercise to improve glycemic control in patients with type-II diabetes mellitus under the brand name Riomet.

It will offer an alternate dosage form to the tablet dose that has been in the US market, clocking sales of about $1.6 billion, a company statement said in New Delhi.

Ranbaxy will market the drug in the US through its brand products division, which has been created with the specific mission of marketing brand name products that will materialise through the Ranbaxy pipeline.

"This products offering is intended to provide utility and prescribing flexibility to both patients and prescribers," Dipak Chhatraj, president, Ranbaxy Pharmaceutical Inc, was quoted as saying.