Annual US sales of Taked's branded Prevacid SoluTab are $453 million.
Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA) today announced that the US Food and Drug Administration (FDA) has approved the company's Abbreviated New Drug Application (ANDA) to market a generic version of Takeda’s Prevacid (lansoprazole) SoluTab for the treatment of heartburn.
Teva said that shipment of the product has commenced.
Teva said that annual sales of the brand product were about $453 million in the US, based on IMS sales data.
Teva won the right to launch a generic version in a Delaware court last year.
Clal Finance Gal Reiter said that the period in which Teva was prohibited from launching a generic version of the drug has ended. Teva does not have exclusivity on the generic version but not other company attempted to attack the patent so Teva is likely to be the only company launching a generic version.
Teva's share fell 0.5% to $54.38 on Nasdaq today, giving a market cap of $48.83 billion.