Caraco Pharma gets FDA OK for generic Metaglip

Jan 14 (Reuters) - Generic drugmaker Caraco Pharmaceutical Laboratories Ltd (CPD.A: Quote, Profile, Research, Stock Buzz) said U.S. health regulators approved its generic version of Bristol-Myers Squibb's (BMY.N: Quote, Profile, Research, Stock Buzz) diabetes drug Metaglip.

The approval is for glipizide/metformin hydrochloride tablets, 2.5/250 mg, 2.5/500 mg and 5/500 mg, the company said in a statement.

For the 12 months ended September 2007, glipizide/metformin HCl generic and brand products combined had annual sales of about $25 million, according to health information provider IMS Data, the company said. (Reporting by Neetha Mahadevan in Bangalore)