Teva Holders Shrug at FDA Approval of Generic-Version of Novartis' TOBI in US
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) announces today that the U.S. Food and Drug Administration has granted approval of the generic equivalent to TOBI^® (Tobramycin Inhalation Solution USP) in the United States. Pursuant to an agreement with Novartis (NYSE: NVS) on this product, Teva expects to launch this product in late November. Marketed by Novartis, TOBI^® had annual sales of approximately $350 million in the United States, according to IMS data as of June 30, 2013.
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