Amneal Pharmaceuticals will shortly start selling its prescription medicine used to treat memory problems associated with Alzheimer’s disease.Rivastigmine Transdermal System, generic version of Novartis’ Exelon Patch, after getting the FDA’s approval.
Rob Stewart, President and CEO of generic drugs focused maker Amneal, said: “We are pleased to receive approval on the company’s first transdermal product, which demonstrates our commitment to develop and bring to market complex generic products.”
He said the company expects to launch up to 50 generic products in 2019, and he expects Amneal’s pipeline of about 220 products is expected to deliver additional complex product approvals this year.
According to IQVIA, U.S market annual sales for the 12 months ended November 2018 for Rivastigmine Transdermal System is estimated to be approximately $225 million, Amneal said in the announcement Monday.
Novartis shares were seen at a lower notch today, at CHF 85.92, -1.01 %, or -0.88.