Beximco Pharmaceuticals Gets U.S. Approval for Diabetes Control Drug
December 19 2016 - 04:28AM
Dow Jones News
By Philip Waller
LONDON--Shares in Beximco Pharmaceuticals Ltd (BXP.LN) rose 7.4%
on Monday after it said U.S. regulators have given it the go-ahead
to market its extended-release Metformin tablets for diabetes
control.
The generic drug manufacturer said the U.S. Food & Drug
Administration has approved 500 milligram and 750 mg versions of
the Metformin Hydrochloride tablets.
The tablets are the generic equivalent to Bristol-Myers Squibb's
(BMY) Glucophage XR tablets in the same dosages.
Annual sales for Glucophage XR in the U.S. were $918 million for
the year ended Oct. 31, according to IMS data.
At 0848 GMT, shares in Beximco were up 3.5 pence at 51
pence.
-Write to Philip Waller at philip.waller@wsj.com
(END) Dow Jones Newswires
December 19, 2016 04:13 ET (09:13 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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