Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has announced : the Food and Drug Administration (FDA) approval and the launch of the generic equivalent of Diovan (Valsartan) tablets in the US. Diovan treats high blood pressure and is used by heart disease patients.
Diovan, marketed by Novartis Pharmaceuticals, had annual sales of about $1.8 billion in the US, according to IMS data as of October 2014.
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Yesterday, Teva announced the launch of two new generic versions of antibiotics in the US.