TEVA GRANTED FDA APPROVAL FOR METAGLIP

Teva Pharmaceutical has reported that the FDA approved its application to market a generic version of Bristol-Myers Squibb's Metaglip diabetes treatment. The company received approval to make three different strengths of tablets containing glipizide and metformin hydrochloride, the active ingredients in Metaglip. Teva will begin shipping the product immediately.

The drug is an initial or second Type 2 diabetes treatment for patients who have failed a previous therapy. In April, Teva also received FDA approval to market a generic equivalent of another Bristol-Myers Squibb diabetes treatment, Glucophage XR.