Par Pharma gets OK for generic of Wyeth's Inderal LA
(Adds details)
Jan 29 (Reuters) - Par Pharmaceutical Cos. Inc. (PRX.N) said it received regulatory approval for the generic version of Wyeth's WYE.N Inderal LA, which treats hypertension.
Shares of Par Pharmaceutical rose more than 10 percent to $26.70 in morning trade on the New York Stock Exchange.
The company said the U.S. Food and Drug Administration approved its propranolol hydrochloride extended release capsules for various dosage strengths.
Inderal LA had annual U.S. sales of about $215 million, Par said in a statement.
FDA approved the 60-, 80-, 120- and 160-mg dosage strengths, Par said.
(Reporting by Ankur Relia in Bangalore)
((Editing by Bernard Orr, Vinu Pilakkott; Reuters Messaging: ankur.relia.reuters.com@reuters.net; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800)) Keywords: PARPHARMA FDA/
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