Generic HIV Drug From Mylan's Matrix OK'd

A generic version of Bristol-Myers Squibb's antiretroviral drug Zerit was immediately shipped under the Mylan label.
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Updated from 11:47 a.m. ESTShares of Mylan (MYL) - Get Report were on the rise Tuesday morning after the drugmaker said it had started selling a generic version of Bristol-Myers Squibb's (BMY) - Get Report HIV drug Zerit.

Matrix Laboratories, an Indian company owned in large part by Mylan, received final approval Monday from the Food and Drug Administration for stavudine capsules in 15, 20, 30 and 40 mg doses, Mylan said.

The product was shipped immediately under the Mylan Pharmaceutical Inc. label, Mylan said.

Mylan shares ended Tuesday's trading session up 17 cents, or 1.8%, to $9.68.

Bristol-Myer's Zerit had annual U.S. sales of approximately $54 million for the 12 months ending Sept. 30 for the strengths noted above, Mylan said.

Mylan's competitors in the generic-drug sector include

Teva Pharmaceuticals

(TEVA) - Get Report

and

Watson Pharmaceuticals

(WPI)

.

Other companies that make generic drugs used to treat HIV include

Barr Laboratories

,

Aurobindo Pharma

,

Cipla

,

Ranbaxy Laboratories

and

Roxane Laboratories

.

This article was written by a staff member of TheStreet.com.