Annual brand sales of the anti-anxiety drug totaled $611 million before generic equivalents became available in 2001. Teva said it would launch the drug immediately.
Israeli drug maker Teva (Nasdaq: TEVA) announced on Thursday that it had received FDA approval to market anti-anxiety drug Buspirone Hydrochloride.
Buspirone Hydrochloride is the generic equivalent of Bristol-Myers Squibb's Buspar. Annual brand sales of the drug totaled $611 million before generic equivalents became available in 2001.
The clearance for Teva comes about 11 months after approval was granted for Mylan Laboratories and Watson Pharmaceuticals to market generic versions of the drug.
Teva said it would launch the drug immediately.
In early trade on Sunday, Teva shares were up 2% at NIS 270.40 on the Tel Aviv Stock Exchange.
Published by Israel's Business Arena on 3 March, 2002