Teva Pharma (TEVA) Lauches Generic Effexor XR (WYE)
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Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) announced today that it has commenced commercial launch of Venlafaxine HCl ER Capsules, the Company’s generic version of Wyeth’s (NYSE: WYE) antidepressant Effexor XR. The brand product had annual sales of approximately $2.75 billion in the United States, based on IMS sales data.
As the first company to file an Abbreviated New Drug Application (ANDA) containing a paragraph IV certification for this product, Teva has been awarded a 180-day period of marketing exclusivity.
"It is truly our pleasure to introduce our Venlafaxine product," said William S. Marth, President and CEO of Teva North America. "Through the current patent settlement process, we are able to launch this product 7 years early, thus bringing significant savings to patients and payors and relieving some of the burden on the U.S. healthcare system."
As the first company to file an Abbreviated New Drug Application (ANDA) containing a paragraph IV certification for this product, Teva has been awarded a 180-day period of marketing exclusivity.
"It is truly our pleasure to introduce our Venlafaxine product," said William S. Marth, President and CEO of Teva North America. "Through the current patent settlement process, we are able to launch this product 7 years early, thus bringing significant savings to patients and payors and relieving some of the burden on the U.S. healthcare system."
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