Manufacturer: AstraZeneca Prescribed for: Treatment of Schizophrenia U.S. patent expiry in: November 2016 Seroquel XR, approved by the FDA in 2007, is the extended release version of Seroquel. Although the drug has patent protection until November 2017 in the U.S., a generic version of Seroquel XR can be launched this year as AstraZeneca has entered into a settlement with several generics companies seeking to market a generic version of the drug.As per the settlement terms, Accord Healthcare Inc., Handa, Lupin, Mylan, Osmotica, and Torrent have been granted a license to enter the U.S. market with generic Seroquel XR on November 1, 2016.Seroquel XR generated sales of $1.03 billion in 2015, which is 4% of AstraZeneca’s total sales.