The brand product had12 month sales of $1.5 billion.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has reported that it has received tentative US Food and Drug Administration (FDA) approval its abbreviated new drug application (ANDA) to market its generic version of Novartis’ hypertension treatment Diovan (Valsartan) tablets in doses of 40 mg, 80 mg, 160 mg and 320 mg.
Diovan is a medication used to treat hypertension, or high blood pressure. Final approval of the generic version is expected when patent protection for the brand product expires, in September 2012. The brand product had US sales of approximately $1.5 billion for the twelve months ended March 30, 2008, according to IMS data.
Shares in Teva rose 0.57% in Nasdaq trading on Friday to close at $42.50, reflecting a market cap of $32.8 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on June 15, 2008
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