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Generic drugmaker Mylan Inc. has reached settlement agreements with Japanese drugmaker Takeda Pharmaceuticals over rights to launch generic versions of two Type 2 diabetes treatments.

Mylan said Tuesday it will have the right to market generic versions of Actos on Aug. 17, 2012 and Actoplus Met on Dec. 14, 2012, or earlier for both drugs under certain circumstances.

Actos had $3.4 billion in U.S. sales last year, while Actoplus Met rang up $459 million, according to IMS Health.

Mylan, based in Pittsburgh, said the agreement remains subject to review by the U.S. Justice Department and Federal Trade Commission.

Mylan shares fell 5 cents to $21.90 at the start of trading Tuesday.

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