Teva Pharmaceutical Industries said on Wednesday the Food and Drug Administration has granted final approval for the company's generic treatment for patients with prostate cancer, and it will begin shipping the product immediately.

The drug, called Mitoxantrone Hydrochloride injection USP, is used in combination with corticosteroids as initial treatment for patients in pain from advanced hormone-refractory prostate cancer.

It can also be used in combination with other products for the initial therapy for acute nonlymphocytic leukemia in adults.

The Teva drug is the equivalent of Novantrone injection from Swiss biotech Serono.