DOW JONES NEWSWIRES
Teva Pharmaceutical Industries Ltd. (TEVA, TEVA.TV) has received
U.S. Food and Drug Administration approval to market the first
generic version of Forest Laboratories Inc.'s (FRX) Lexapro for
adults.
The generic drug--escitalopram--is approved to treat depression
and generalized anxiety disorder.
The world's biggest manufacturer of generic drugs said Wednesday
it has been granted a 180-day period of generic-drug exclusivity,
which means the FDA can't approve another generic version of
escitalopram tablets before the end of that period.
Teva, which has diversified into brand-name and over-the-counter
drugs, in February expected sales growth for its U.S. generics
business to outpace market growth during 2012.
Lexapro has been Forest Labs's main money maker. The company in
January reported Lexapro sales of $593 million for its fiscal third
quarter.
Teva last month reported that its fourth-quarter profit declined
34%, as higher acquisition-related costs more than offset a revenue
increase fueled by last year's purchase of Cephalon Inc.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481;
Tess.Stynes@dowjones.com