Monday, generic and specialty pharmaceutical company Mylan Inc. (MYL) said that its subsidiary, Genpharm ULC, has received final approval from the U.S. Food and Drug Administration, or FDA, for its Abbreviated New Drug Application, or ANDA, for Zaleplon Capsules, 5 mg and 10 mg.
Zaleplon Capsules are generic versions of King Pharmaceuticals Inc.'s (KG) Sonata Capsules. Sonata is a non-benzodiazepine capsule for the treatment of insomnia, which generated sales of $88 million in United States last year.
The company said that the product will be shipped immediately and sold under the Mylan Pharmaceuticals brand.
Mylan shares are currently trading at $12.70, down 4 cents or 0.31%, from Friday's close on NYSE.
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