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8/17/2012 10:04 AM ET

Teva Pharmaceutical Industries Ltd. (TEVA: Quote) announced the launch of an authorized generic of Actos (pioglitazone-hydrochloride tablets) 15, 30 and 45mg.

Actos is marketed by Takeda Pharmaceuticals U.S.A., Inc. and used with diet and exercise to improve blood sugar (glucose) control in adults with type 2 diabetes.

The brand product had annual sales of approximately $2.7 billion in the United States, based on IMS sales data as of June 30, 2012.

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