NEW YORK - Generic drug maker Teva Pharmaceutical Industries Ltd. said Wednesday it started shipping a generic version of Ortho Tri-Cyclen, a birth control pill marketed by Johnson & Johnson.
Teva made an "at-risk launch" of the drug after the Food and Drug Administration approved its version. Johnson & Johnson is suing Teva for infringing on the patents of the original version, which are set to expire in 2019. Teva plans to sell its version under the name Tri-Lo Sprintec.
Teva said it has 180-day marketing exclusivity on its generic, meaning no other generic version can be launched for the next six months. It says sales of U.S. Ortho Tri-Cyclen totaled $400 million in the 12 months ended March 31.
Jerusalem-based Teva is the world's largest generic drug maker by revenue. Ortho Tri-Cyclen is sold by Johnson & Johnson's Ortho McNeil Janssen division.
In morning trading, Teva shares picked up 78 cents to $50.12. The day's high of $50.20 was a new 52-week mark. Johnson & Johnson shares dipped 2 cents to $56.78.
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