(By Balaseshan) Mylan Inc. (NASDAQ:MYL), a pharmaceutical company, said its subsidiary launched the generic version of Hospira Inc.'s (NYSE:HSP) general anesthesia induction therapy Amidate.
Mylan Institutional has received final approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for Etomidate Injection USP, 2 mg/mL packaged in 40 mg/20 mL single-use vials. Mylan has begun shipping the 20 mL vial presentation of this product in packs of 10.
The therapy is the generic version of Hospira's Amidate Injection, which is indicated by intravenous injection for the induction of general anesthesia. Etomidate Injection USP, 2 mg/mL, in all product presentations has faced recent shortages in the U.S. market.
Etomidate Injection USP, 2 mg/mL, packaged in 20 mL vials, had U.S. sales of about $6.58 million for the twelve months ending March 31, 2012, according to IMS Health.
Previously on July 27, Mylan's subsidiary Mylan Laboratories Ltd. launched the generic version of Janssen Pharmaceutical Inc.'s anti-fungal drug Sporanox.
On June 6, Mylan's subsidiary Mylan Pharmaceuticals ULC has received Health Canada approval for generic version of Actelion Pharmaceuticals Ltd.'s pulmonary arterial hypertension drug Tracleer.
On May 29, Mylan announced the launch of generic version of Pfizer Inc.'s (NYSE:PFE) top-selling cholesterol controlling drug Lipitor. Atorvastatin Calcium is indicated as an adjunct to diet in patients with primary hypercholesterolemia and mixed dyslipidemia to reduce elevated total cholesterol, LDL, triglycerides and to increase HDL cholesterol.
On May 24, Mylan announced the launch of generic version of Roche's osteoporosis treatment Bonviva in the UK and Italy. Osteoporosis is the thinning of bone tissue and loss of bone density over time, common in older women.
On May 23, Mylan said its subsidiary launched the generic version of Viramune tablets to treat patients living with HIV/AIDS, after final approval from the U.S. health regulators. This expands further the reach of Mylan's global antiretroviral portfolio.
MYL closed Friday's regular session at $23.13. The stock has been trading between $15.49 and $23.88 for the past 52 weeks.