Teva. World's largest generic drugmaker
Photo: Sebastian Scheiner
Teva launches generic schizophrenia drug
Israel-based pharmaceutical company says received approval to begin marketing low-cost version of Risperdal in US
Teva Pharmaceutical Industries Ltd., the world's largest generic drugmaker, said Friday it received approval to begin marketing a low-cost version of the schizophrenia drug Risperdal in the US.
Teva is the first generic drug company to launch a version of the drug, which was originally manufactured by Johnson & Johnson unit Janssen Pharmaceutica.
Because Jerusalem-based Teva was the first company to file a generic application for the drug, the Food and Drug Administration has granted the company six months of market exclusivity. At the end of that period competing generic drugmakers will be able to launch their own products.
Risperdal had sales of $78 million for the fiscal year ended September 30, according to health care data firm IMS Health.
Shares of Teva fell 17 cents to $41.80 in afternoon trading.
