Sales of Pfizer's Lipitor in Canada total C$1.3 billion a year.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) subsidiary Teva Canada Inc. has obtained a Notice of Compliance from Health Canada to market its generic version of Lipitor tablets for lowering cholesterol.
Teva will begin shipments immediately.
Branded Lipitor is made by Pfizer Inc. (NYSE: PFE; LSE: PFZ). Brand sales in Canada total C$1.3 billion a year.
Teva's share price rose 0.3% on Nasdaq yesterday to $55.38, but fell 2% at the opening on the TASE today to NIS 212.60, in line with the general market slide.
Published by Globes [online], Israel business news - www.globes-online.com - on May 20, 2010
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