Teva Pharmaceutical (TEVA) Receives FDA Approval for Generic Xanax XR
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Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) announced today that the U.S. Food and Drug Administration has granted approval for the Company's Abbreviated New Drug Application (ANDA) for Alprazolam Extended Release Tablets, 0.5 mg, 1 mg, 2 mg and 3 mg.
Teva's product is the AB-rated equivalent of Pharmacia and Upjohn's Xanax XR Tablets, a product indicated for treatment of panic disorder. Total annual sales of this product, including brand and generic sales, are approximately $54 million, based on IMS sales data.
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