Generic Versions of Plavix Get FDA Approval

Multiple companies produce drug; Bristol-Myers Squibb cuts price

   

Users of the blood-thinner Plavix now have generic options.

The patent on the best-selling medication, which produced $6.8 billion in 2011 sales for Bristol-Myers Squibb (NYSE:BMY) and Sanofi (NYSE:SNY), expired on Thursday.

prescription drugs 200x200 Generic Versions of Plavix Get FDA Approval
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The U.S. Food and Drug Administration quickly approved generic versions from Dr. Reddy’s Laboratories (NYSE:RDY), Mylan Pharmaceuticals (NASDAQ:MYL), Teva (NASDAQ:TEVA), Gate Pharmaceuticals, Aurobindo Pharma, Roxane Laboratories, Torrent Pharmaceuticals, Apotex and Sun Pharmaceutical Industries under the name clopidogrel.

Shares of Bristol-Myers Squibb and Sanofi were up fractionally in Friday morning trading.

The FDA has approved clopidogrel for the treatment of patients who have suffered a heart attack or stroke, the Wall Street Journal noted.

Mylan, which was approved to sell 300-milligram doses of clopidogrel, announced that it would begin shipping the medication at once.

In an attempt to keep patients from switching to cheaper generic versions, Bristol-Myers Squibb and Sanofi are promoting a Plavix Choice Program, which will lower the monthly cost of the drug from $100 to $37.


Article printed from InvestorPlace Media, http://investorplace.com/2012/05/generic-versions-of-plavix-get-fda-approval/.

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