Teva announced Wednesday that the FDA gave final approval to its generic version of Medicis’ acne drug Solodyn (minocycline) extended release. The company, which is currently involved in patent litigation over the drug with Medicis in a US district court, said that shipment of the product has already started.

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The FDA denied a request from Medicis to bar generic versions of Solodyn from being introduced to the market before its patent expiry in 2018, driving down shares of the company as much as 31 percent on Wednesday. Teva indicated that a trial date for the patent lawsuit with Medicis has not yet been scheduled.

Medicis had previously settled a patent dispute with Impax, permitting Impax to market a generic version of the treatment as early as November 2011 in exchange for royalties.

Source: FirstWord

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