Generic drug developer Taro Pharmaceuticals Industries Ltd. said late Wednesday the Food and Drug Administration approved its generic version of Boehringer Ingelheim's Mobic tablets to treat symptoms associated with osteoarthritis and rheumatoid arthritis.
Branded and generic meloxicam tablets registered sales of about USD 105 million during the third quarter, the company said.
Israel-based Taro also said it received tentative FDA approval for a generic version of Pfizer's allergy medication Zyrtec Syrup.
The approval is tentative pending expiration of Pfizer's patent, set for December 2007. Annual US sales of Zyrtec Syrup are about USD 153 million, Taro said.
Shares of Taro fell 18 cents to close at USD 10.35 on the Nasdaq.
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