The drug, which is the generic version of Bristol Myers Squibb's Buspar, is for the treatment of anxiety and anxiety with depression. Annual US sales of the 15 mg brand are estimated to be $395 million.
Teva (Nasdaq: TEVA)
announced yesterday that the US Food and Drug Administration (FDA) had awarded tentative approval for Buspirone HCL Tablets, 15 mg.
With this approval, Teva has tentative approvals for the 3 strengths of Buspirone HCL tablets: 5, 10 and 15 mg.
Buspirone HCL Tablets is the generic version of Bristol Myers Squibb's Buspar for the treatment of anxiety and anxiety with depression. Annual sales of the 15 mg brand in the US are estimated to be $395 million.
Currently other competitors have the rights to an exclusive marketing period, which will end at the end of September 2001, after which multiple competitors may enter the market.
Teva Pharmaceutical Industries, headquartered in Israel, is among the top 40 pharmaceutical companies and among the largest generic pharmaceutical companies in the world. Teva shares closed yesterday in New York at $68.77, up 1.96%.
Published by Israel's Business Arena on 9 August, 2001