Updated from 8:49 a.m. EDT

Mylan Laboratories

(MYL) - Get Report

shares rose Monday after the company said it had won regulatory approval for a generic version of

Novartis'

(NVS) - Get Report

hypertension drug Lopressor.

The Pittsburg-based generic drugmaker said the Food and Drug Administration has approved its metoprolol tartrate and hydrochlorothiazide tablets, which will compete with the Lopressor HCT tablets made by the Switzerland-based Novartis.

Mylan also announced it has received tentative FDA for its cetirizine hydrochloride tablets and sertraline hydrochloride tablets, which are respective generic versions of the

Pfizer

(PFE) - Get Report

drugs Zyrtec, used to treat allergies, and Zoloft, a medication for depression and other disorders.

In late July, Mylan said it had agreed to merge with

King Pharmaceuticals

(KG)

in a stock-swap deal valued at $4 a share at the time.

Shares added 36 cents, or 2.1%, to $17.25.