Processing Magazine

Shares of Generic Drugmaker Mylan Rise

January 19, 2011

The Associated Press reports, shares of Mylan Inc. jumped in trading, after the generic drugmaker said it received approval to make three doses of a generic version of Bayer''s Precose tablets, which are used to treat diabetes. The company received approval for 25-, 50- and 100-milligram doses of its Acarbose tablets, which are used to improve glycemic control in adults with Type 2 diabetes. The tablets had U.S. sales of about $23 million for the year that ended Sept. 30, according to Mylan, citing data from IMS Health. Mylan climbed 4.4 percent, or $1.01, to $23.81 in late trading Tuesday. Watson rose 2.7 percent, or $1.40, to $53.27, as broader trading indexes climbed less than 1 percent.