Mylan (NSDQ:MYL) announced today the U.S. launch of its rivastigmine transdermal drug-delivery patch, a generic version of Novartis‘ (NYSE:NVS) Exelon therapy.
The company’s rivastigmine therapy is indicated for the treatment of dementia associated with Alzheimer’s disease and Parkinson’s disease.
For the 12 months ending May 31, 2018, rivastigmine transdermal systems brought in $248 million in sales in the U.S, according to Mylan.
“The launch of generic Exelon patch is another example of the investment Mylan is continuing to make into products that are difficult to develop and manufacture, particularly in transdermal drug-delivery systems. The launch of this product also strengthens the company’s growing central nervous system portfolio, which is a therapeutic area of continued focus for Mylan as we strive to provide better health for a better world,” president Rajiv Malik said in prepared remarks.
MYL shares were trading at $37.08 apiece in morning activity today, up +1.2%.
Last month, the generic pharmaceutical company launched its bivalirudin injection in the U.S. as a generic version of The Medicines Co.‘s (NSDQ:MDCO) Angiomax product.
