Barr launches generic Zoloft |
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Published
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Tue, 06 Feb 2007 22:55
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WOODCLIFF LAKE, N.J. (AFX) - Barr Pharmaceuticals Inc. said Tuesday it received Food and Drug Administration clearance to launch a generic version of Pfizer Inc.'s blockbuster antidepressant Zoloft.Pfizer lost patent protection on the drug last summer. Zoloft sales fell 79 percent in the company's fourth-quarter to $166 million from $808 million in the prior year's quarter.Teva Pharmaceutical had the only generic version of Zoloft on the market for the last six months under a federal enforced exclusivity period. Now that the period has expired, Barr and competitor Mylan Laboratories both said they would release generic versions immediately.Separately, Mylan said it also received FDA approval for its version of the drug.Shares of Barr Pharmaceuticals fell 51 cents Tuesday to close at $53.22, while shares of Pfizer fell 5 cents to end at $26.83, both on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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