FDA announced U.S. approval of Mylan’s generic version of Teva’s blockbuster multiple sclerosis drug, Copaxone. The news sent Mylan shares soaring about 18 percent, and Teva shares fell about 14 percent, according to a Reuters article.
The approval was issued a day after we reported that the FDA revealed it would introduce new measures to speed to market generic versions of complex drugs to help address rising pharmaceutical costs.
Teva claims that Mylan was launching the drug before resolving various patent appeals.
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