Caraco Pharmaceutical Labs Gets FDA Approval To Market Generic Version Of Adipex-P - Update

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(RTTNews) - Caraco Pharmaceutical Laboratories Ltd. (CPD | charts | news | PowerRating) on Wednesday said that it has received FDA approval for its Abbreviated New Drug Application or ANDA for Phentermine Hydrochloride Tablets USP, 37.5 mg or Phentermine HCl. The company has planned to market this product to the generic pharmaceutical market immediately.

Phentermine HCl is indicated only as short-term monotherapy for the management of exogenous obesity.

The company noted that its generic Phentermine HCl is the bioequivalent to Adipex-P, a registered trademark of TEVA Pharmaceuticals USA Inc.

According to IMS Data, for the twelve months ended June 2007, Phentermine HCl generic and brand products (Adipex-P) combined had annual sales of about $34 million.

CPD is currently trading at $14.92, up 18 cents or 1.22%.

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