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Pharmaceutical

Shares of Generic Drugmaker Mylan Rise

January 19, 2011
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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.

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