Branded Imitrex had $1 billion in 2008.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has obtained US Food and Drug Administration (FDA) approval to market generic Imitrex, a migraine treatment made by GlaxoSmithKline plc (NYSE; LSE: GSK). As the first company to file an Abbreviated New Drug Application (ANDA), Teva has six-month market exclusivity, and it will begin deliveries immediately.
Branded Imitrex had $1 billion in 2008, according IMS Health data.
Teva's share rose 0.1% on Nasdaq yesterday to $42.46. The share rose 1.2% at the opening on the TASE, bucking the market trend, to NIS 172.20.
Published by Globes [online], Israel business news - www.globes-online.com - on February 11, 2009
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