Teva Holders Shrug at FDA Approval of Generic-Version of Novartis' TOBI in US

Teva Pharmaceutical Industries Ltd. 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 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.