Watson Pharmaceuticals Inc. (WPI) said Monday its unit, Watson Laboratories Inc. - Florida, has received FDA approval for its abbreviated new drug application for generic Cardizem LA product.
Corona, California-based Watson intends to launch its generic version of Cardizem LA immediately.
Diltiazem Hydrochloride Extended-Release tablets, which are the generic equivalent to Biovail Laboratories International SRL's, a unit of Biovail Corp. (BVF), Cardizem LA product, are indicated for the treatment of hypertension.
For the 12-months ending December 31, 2009, Cardizem LA had total U.S. sales of about $94.1 million, according to IMS Health.
WPI closed Monday's regular trading session at $40.28, down $1.09 or 2.63% on a volume of 4.25 million shares. In the after-hours, the shares further lost 12 cents.
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