Healthcare Industry News: Roche
News Release - June 3, 2010
Taro Receives FDA Approval for Granisetron Hydrochloride TabletsGeneric Equivalent to Hoffman-La Roche’s Kytril® Tablets, 1 mg (base)
HAWTHORNE, N.Y.--(HSMN NewsFeed)--Taro Pharmaceutical Industries Ltd. (“Taro,” the “Company,” Pink Sheets: TAROF) reported today that it has received approval from the U.S. Food and Drug Administration (“FDA”) for its Abbreviated New Drug Application for Granisetron Hydrochloride Tablets USP, 1 mg (base) (“granisetron tablets”).
Taro's granisetron tablets is a prescription product used for the prevention of nausea and vomiting associated with chemotherapy and radiation treatment and is bioequivalent to Hoffman-La Roche, Inc.'s Kytril® tablets, 1 mg (base). According to industry sources, granisetron tablets had U.S. sales of approximately $15 million in 2009.
Taro Pharmaceutical Industries Ltd. is a multinational, science-based pharmaceutical company, dedicated to meeting the needs of its customers through the discovery, development, manufacturing and marketing of the highest quality healthcare products.
For further information on Taro Pharmaceutical Industries Ltd., please visit the Company’s website at www.taro.com.
Certain statements in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s granisetron tablets. Although Taro Pharmaceutical Industries Ltd. believes the expectations reflected in such forward-looking statements to be based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ include industry and market conditions; slower than anticipated penetration of new markets; marketplace acceptance of Taro’s granisetron tablets; changes in the Company’s financial position; regulatory actions; and other risks detailed from time to time in the Company’s SEC reports, including its Annual Reports on Form 20-F. Forward-looking statements speak only as of the date on which they are made. The Company undertakes no obligation to update, change or revise any forward-looking statements, whether as a result of new information, additional or subsequent developments or otherwise.
Source: Taro Pharmaceutical
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