On Thursday, Watson Pharmaceuticalsannounced that the U.S. Food and Drug Administration has approved its Abbreviated New Drug Application (ANDA) for tranexamic acid tablets, a drug useful in controlling excessive bleeding .
Watson's ANDA product is the generic equivalent of Ferring Pharmaceuticals' Lysteda. Ferring is currently involved in litigation against Watson over the ANDA product, which Ferring says infringes on its patents. Ferring's Lysteda is routinely prescribed for treatment of heavy menstrual bleeding, and IMS Health reports that it generated $25 million in U.S. sales for Ferring in the 12 months ending November 2012.
Shares of Watson closed up 2% on the news at $85.91.
The article Watson's Generic Anti-Bleeding Drug Gets FDA Okay originally appeared on Fool.com.
Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.