Specialty pharmaceutical company Watson Pharmaceuticals, Inc. (WPI) Tuesday said its subsidiary, Watson Laboratories, Inc., received approval from the United States Food and Drug Administration on its Abbreviated New Drug Application for galantamine hydrobromide extended-release capsules, eq. to 8 mg, 16 mg and 24 mg galantamine base.
Galantamine hydrobromide extended-release capsules are the generic equivalent to Ortho McNeil Janssen's Razadyne ER, galantamine HBr extended-release capsules, indicated for treating Alzheimer's disease. Watson intends to launch the product immediately.
Razadyne ER had annual sales of about $112 million for the twelve months ending September 2008, according to IMS sales data.
WPI closed Monday's regular trade at $23.61, down from the previous close of $23.80, on 881,500 shares.
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