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Wednesday June 1, 2005 Teva/SICOR Receives FDA approval for Generic Biaxin Dose
NEW YORK (AP) - Israeli drug maker Teva Pharmaceutical Industries Ltd. said Wednesday that the Food and Drug Administration approved its application to market additional generic versions of Abbott Laboratories Inc.'s Biaxin antibiotic.
Teva received approval to market 250 milligram and 500 milligram tablets containing the active ingredient clarithromycin, which is used to treat bacterial respiratory tract infections. In May, Teva received FDA approval to market a 500 milligram extended-release version of the drug.
Teva said that a launch date for the new dosages has not been set. The company is currently being sued by Abbott for patent infringement over the product, the branded version of which has annual sales of about $204 million.
Also Wednesday, drug maker Ivax Corp. said it received FDA approval to market 250 milligram and 500 milligram tablets of generic Biaxin.
In afternoon trading, Teva American depositary receipts rose 45 cents to $33.86 on the Nasdaq, Abbott shares fell 4 cents to $48.20 on the New York Stock Exchange, and Ivax shares rose 17 cents to $19.82 on the American Stock Exchange. |