The U.S. FDA said in a press release that it has approved first generic Lexapro (escitalopram) to treat both depression and anxiety disorder in adults. Teva Pharmaceuticals gained the approval for 5,10 and 20mg tablets. Teva has been granted 180 day generic exclusivity period.
H. Lundbeck A/S (OMX: LUN) has previously said it expects a major decline in revenues due to generic competition. For 2011 Lundbeck said the drug grossed 2.54 billion USD. Lexapro is sold in the U.S by partner Forest Laboratories, to whom the loss is proportionally even greater.
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