Teva Pharmaceutical ( TEVA) said the Food and Drug Administration granted tentative approval for the company's abbreviated new drug application for Gatifloxacin tablets.

Upon final approval, Teva's Gatifloxacin tablets will be the AB-rated generic equivalent of Bristol-Myers Squibb's ( BMY) quinolone antibiotic Tequin tablets, Israel's Teva said. The brand product has annual sales of roughly $129 million.

Teva said it is in patent litigation concerning this product in the U.S. District Court for the Southern District of New York, where a trial is scheduled for May 1, 2006. Bristol-Myers Squibb and Kyorin brought suit against Teva in March 2004 involving Teva's paragraph IV certification to U.S. Patent No. 4,980,470. The patent is set to expire on Dec. 15, 2009.

On Thursday, Teva fell 50 cents to $34.16.

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