Teva (TEVA), Dr. Reddy's (RDY) Launch Generic Zyprexa Tabs
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Price: $14.11 -2.22%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 2.1%
EPS Growth %: +30.0%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 2.1%
EPS Growth %: +30.0%
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Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA) and Dr. Reddy’s Laboratories (NYSE: RDY) announced today the commercial launch of Olanzapine Tablets, the generic version of Eli Lilly’s Zyprexa®. Annual sales of Zyprexa® were approximately $3.2 billion in the United States as of September 2011, based on IMS sales data.
Teva’s Olanzapine Tablets in 2.5 mg, 5 mg, 7.5 mg, 10 mg and 15 mg and Dr. Reddy’s Olanzapine Tablets in 20 mg have each been awarded a 180-day period of marketing exclusivity in the U.S. Dr. Reddy's is supplying the 20 mg version of the product following an April 2011 commercialization, manufacture and supply agreement with Teva. In addition, as per the terms of the agreement, Dr. Reddy's will launch their 2.5 mg, 5 mg, 7.5 mg, 10 mg, 15 mg and 20 mg of Olanzapine tablets upon expiration of the 180-day exclusivity period.
ZYPREXA is a trademark of Eli Lilly and Company (NYSE: LLY).
Teva’s Olanzapine Tablets in 2.5 mg, 5 mg, 7.5 mg, 10 mg and 15 mg and Dr. Reddy’s Olanzapine Tablets in 20 mg have each been awarded a 180-day period of marketing exclusivity in the U.S. Dr. Reddy's is supplying the 20 mg version of the product following an April 2011 commercialization, manufacture and supply agreement with Teva. In addition, as per the terms of the agreement, Dr. Reddy's will launch their 2.5 mg, 5 mg, 7.5 mg, 10 mg, 15 mg and 20 mg of Olanzapine tablets upon expiration of the 180-day exclusivity period.
ZYPREXA is a trademark of Eli Lilly and Company (NYSE: LLY).
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