June 30, 2010, Updated September 24, 2012
Israeli generic pharmaceuticals giant Teva Pharmaceutical Industries has received US Food and Drug Administration (FDA) approval for generic versions of two new drugs – the breast cancer drug Arimidex made by AstraZeneca, and the antidepressant, Effexor XR, by Wyeth.
Effexor XR sees annual sales of about $2.75 billion, while Arimidex, which is used to treat breast cancer in postmenopausal women, has annual sales of about $916.8 million.
Effexor is an anti-anxiety drug used to treat panic attacks and depression. Teva has been awarded six months of marketing exclusivity.
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