Andrx Up on Product Approval

Pharmaceutical company

Andrx

(ADRX)

said it has received final marketing approval from the Food and Drug Administration for its new cardiovascular disease drug.

The company plans to offer the potassium chloride extended release tablets, a generic version of the drug K-Dur produced by

Schering-Plough

(SGP)

, in two strengths, both of which have received FDA approval.

Andrx plans to market the drugs immediately.

The company's stock was recently up $1.70 to $37.84 on the news after closing at $36.15 Wednesday. Shares of Schering-Plough were down 25 cents to $29.02.