Drugmaker

Mylan

(MYL) - Get Report

announced Wednesday that its generic version of the epilepsy and bipolar disorder drug Lamictal had received FDA approval.

The

Food and Drug Administration

approved the use of generic Lamictal in strengths of 25 mg, 100 mg, 150 mg and 200 mg, and it also approved chewable Lamictal in 5 mg and 25 mg doses.

According to Mylan, quoting data from IMS Health, Lamictal tablets had annual U.S. sales of approximately $2.5 billion for the 12 months ending Sept. 30, 2008, and the chewable version had annual U.S. sales of approximately $91 million for the same period.

Sandoz

and

Teva Pharmaceuticals

(TEVA) - Get Report

also sell generic versions of Lamictal, which was originally developed by

GlaxoSmithKline

(GSK) - Get Report

to treat epilepsy and bipolar 1 disorder. Mylan shares were rising 14 cents, or 1.2%, to $11.65 at midday Wednesday. GlaxoSmithKline shares were up 0.7% to $36.01.

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