Teva Launches Generic Fish Oil Drug
NEW YORK (AP) — Teva Pharmaceutical Industries said Tuesday it is now selling a generic version of the heart medication Lovaza, which is used to treat high triglyceride levels.
Lovaza is made from omega-3 fish oils. It is approved for use in adults and is designed to reduce very high triglyceride levels in combination with a low-fat and low-cholesterol diet. According to GlaxoSmithKline PLC, which sells the drug, U.S. sales of Lovaza fell 5 percent to 581 million pounds ($958 million) in 2013. Glaxo said competition for Lovaza increased as demand for non-statin drugs fell.
Shares of Teva Pharmaceutical Industries Ltd. fell $1.01, or 2 percent, to $50.50 in morning trading. The Israeli company is the world's largest maker of generic drugs.