Par intros generic Chantix

Par, an Endo company, is introducing the first generic version of Pfizer's Chantix (varenicline tablets), in dosage strengths of 0.5 mg and 1 mg.

Par's varenicline is the first and currently the only available FDA-approved generic version of Chantix in the United States. It is used to help adults stop smoking.

[Read more: Par launches authorized generic of Amitiza]

"This important approval brings the first Chantix generic to the U.S. market," said Jon Holden, senior vice president and general manager, Generics at Endo. "As a reliable, quality supplier, Par is proud to help people during this critical time while also expanding our product portfolio."

[Read more: Rolling with the punches: Generics firms innovate, expand scope to stay competitive] 

Chantix has a market value of approximately $1 billion for the 12 months ended June 30, according to IQVIA.