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JERUSALEM The Food and Drug Administration granted approval for Teva's abbreviated new drug application to market a generic version of a drug designed to treat peptic ulcers.
The generic drug maker said that its drug, lansoprazole, is a generic version of Takeda’s Prevacid SoluTab. Annual sales of the branded product were approximately $453 million in the United States, according to IMS sales data.
Sandoz, the generics division of Swiss drug maker Novartis, also announced the launch of its own version of Prevacid SoluTab.