Indian drug maker Sun Pharmaceutical Industries Ltd. has received approval from the US Food and Drug Administration to sell its generic version of Zyprexa Zydis tablets in the the US. Eli Lilly & Co. (NYSE: LLY) lost patent protection on the anti-psychotic drug in October last year.
The market for generic Zyprexa, or olanzapine, totals about $360 million annually. The drug is used to treat schizophrenia and bipolar disorder. Lilly cut its revenue estimate for 2012 by $3 billion due to the loss of the company’s patent protection on Zyprexa.
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