Healthcare Industry News: Biovail
News Release - December 15, 2006
Anchen Announces Approval of Generic Version of Wellbutrin XL(R)IRVINE, Calif.--(HSMN NewsFeed)--Anchen Pharmaceuticals, Inc. announced today that the U.S. Food and Drug Administration has granted final approval for the Company's Abbreviated New Drug Application to market its generic version of Biovail Corporation's (NYSE:BVF ; TSX:BVF ) anti-depressant Wellbutrin XL® (Bupropion hydrochloride) Extended-Release Tablets, 150 mg and 300 mg.
Commenting on today's approval, Dr. Chih-Ming Chen, Chief Executive Officer and Chairman of Anchen said, "We are extremely pleased to receive FDA approval of our generic version of Wellbutrin XL®. Today's approval represents an important milestone in Anchen's development and commitment to offer high quality products for consumers at affordable cost."
Anchen is still involved in ongoing litigation concerning this product. In August 2006, the District Court granted Anchen's motion for summary judgment of non-infringement. Biovail has appealed the District Court decision.
Anchen Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the development and commercialization of extended release generic products and brand name novel formulations of existing drugs where there are less competition and higher margins.
Source: Anchen Pharmaceuticals
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