Teva Announces Launch of New Generic Drug

The generic drug giant has 180 days of exclusivity for its generic version of Niaspan, a niacin-extended release tablet marketed by AbbVie.

Teva Pharmaceuticals is launching a generic version of a drug with $1.1 billion in sales in the U.S. market, the generic drug giant announced Friday.

Teva has 180 days of exclusivity for its generic version of Niaspan, a niacin-extended release tablet marketed by AbbVie. The drug is used to reduce elevated "bad" cholesterol levels and increase "good" cholesterol levels in patients with primary hyperlipidemia and mixed dyslipidemia, Teva explained in its press release.

This is Teva's second exclusive product release for the third quarter of the year, after a long dry spell.

Niaspan had sales of $1.1 billion in the twelve months that ended in June, according to data from medical research agency IMS.

Teva won six months of exclusivity since it was the first generic drugmaker to win a court case against the Niaspan's patent.

In August, Teva and Perrigo released a generic version of Temodar, a drug used to treat brain cancer. Temodar sales totaled $423 million in 2012.

Teva has six months' exclusivity for this generic drug, too.

AFP