Caraco Pharma Gets Paxil OK

I have to question why anyone would want to sell this drug? I blame the FDA and the MHRA for failing to act on the overwhelming evidence they have had before them.

It seems GSK didn't put up much of a fight - that in itself should have had alarm bells ringing within Caraco

Personally, I think it is a huge risk by Caraco Pharmaceutical Laboratories Ltd but hey ho, it's their loss at the end of the day and I won't be losing any sleep over it.

Source: Forbes.com

Generic drug developer Caraco Pharmaceutical Laboratories Ltd. said Tuesday the Food and Drug Administration granted final approval for a version of GlaxoSmithKline PLC's antidepressant Paxil.

The FDA approved the Detroit-based company's version, called paroxetine hydrochloride, which is indicated for the treatment of major depressive disorder, panic disorder, obsessive compulsive disorder, social anxiety disorder, generalized anxiety disorder and posttraumatic stress disorder.

Caraco offers 10-, 20-, 30- and 40-milligram strengths.

British drug maker GlaxoSmithKline (nyse: GSK - news - people ) booked 620 million pounds ($1.25 billion) in Paxil worldwide sales in 2006.

GlaxoSmithKline's patent on Paxil expired on June 29.

Shares of Caraco rose 33 cents, or 2.2 percent, to close at $15.62. Trading ended at 1 p.m. in an abbreviated session ahead of the July 4th holiday.