The Food and Drug Administration approved Glenmark Pharmaceuticals' generic hypertension treatment, nebivolol, reports Business Standard.
Nebivolol represents the first generic version of Bystolic, a hypertension drug developed by Allergan's subsidiary Forest Laboratories. Bystolic posted annual sales of about $1 billion for the 12-month period ending in March 2017, according to IMS Health data.
Under a license from Forest Laboratories, Glenmark can market and distribute its generic drug three months prior to expiration of Bystolic's U.S. patent protection, according to the report.
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