Mylan Laboratories ( MYL) Monday said federal regulators had granted tentative approval to its anti-psychotic drug Risperidone.

The Pennsylvania-based drugmaker said Risperidone is one of 10 potential first-to-file applications before the Food and Drug Administration.

In January, Mylan reported record third-quarter net income of $84.6 million, or 31 cents a share, on revenue of almost $350 million. The company also forecast EPS of $1.11 to $1.18 for fiscal 2004 and $1.30 to $1.40 for 2005. The consensus estimates are $1.13 and $1.36 a share, respectively, according to Thomson One Analytics.

Mylan said Risperidone is the generic version of Janssen Pharmaceutica's Risperdal tablets.

Shares rose 20 cents, or 0.9%, to $23.54.

More from Stocks

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Finding Stocks Right for You: Cramer's 'Mad Money' Recap (Friday 8/25/18)

Finding Stocks Right for You: Cramer's 'Mad Money' Recap (Friday 8/25/18)

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain

Week Ahead: Wall Street Looks to Jobs Report as North Korea Meeting Less Certain