Teva wins FDA nod for two new important drugs

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 …

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.