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.