Mylan wins race for generic Advair approval

This article was originally published here

Mylan logo - updatedFDA has approved the first generic of GlaxoSmithKline‘s (NYSE:GSK) blockbuster Advair respiratory drug, this one by Mylan (NSDQ:MYL), six months after rejecting Mylan’s application.

Canonsburg, PA-based Mylan’s shares jumped 7% to $30.82 at market close after yesterday’s late-afternoon announcement, and were trading at $30.96 mid-morning today. GSK’s stock dipped 2% to$38.70 on the news late yesterday, but had more than recovered by noon today, reaching $39.23.

Get the full story on our sister site, Drug Delivery Business.

The post Mylan wins race for generic Advair approval appeared first on MassDevice.

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