10/19/2005 5:13:06 PM
MIAMI--(BUSINESS WIRE)--March 23, 2005--IVAX Corporation (AMEX:IVX) (LSE:IVX.L) (WSE:IVX) launched its AB-rated gabapentin capsules in 100 mg, 300 mg and 400 mg dosage strengths. Gabapentin is the generic equivalent of Neurontin(R) a drug used to treat epileptic seizures which is marketed by Warner-Lambert, a unit of Pfizer Inc. According to IMS data, for the fourth quarter 2004, U.S. sales of Neurontin(R) and gabapentin in 100, 300 and 400 mg dosage strengths were $337 million.
On February 11, 2005, IVAX entered into a settlement of litigation with the United States Food and Drug Administration and Alpharma Inc. regarding gabapentin. Pursuant to the settlement, Alpharma waived its FDA awarded 180-day exclusivity in favor of IVAX, effective on March 23, 2005 for gabapentin capsules, and April 29, 2005 for gabapentin tablets. As a result, IVAX can market AB rated gabapentin capsules and tablets prior to the expiration of Alpharma's 180-day marketing exclusivity periods.
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