A day after receiving FDA approval of a generic version of breast cancer treatment Arimidex, Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) said today that the US Food and Drug Administration (FDA) approved Venlafaxine HCl ER capsules, Teva's generic version of Wyeth’s antidepressant Effexor XR.
Based on IMS sales data, branded Effexor has annual sales of about $2.75 billion in the United States.
Effexor is used to treat anxiety, panic attacks, and depression.
Teva and Wyeth settled patent infringement litigation several years ago.
Shipment is expected to commence on July 1, 2010, as per the terms of the 2006 agreement with Wyeth. As the first company to file an Abbreviated New Drug Application (ANDA) containing a paragraph IV certification for this product, Teva has been awarded a 180-day period of marketing exclusivity.
Published by Globes [online], Israel business news - www.globes-online.com - on June 29, 2010
© Copyright of Globes Publisher Itonut (1983) Ltd. 2010