Mylan wins race for generic Advair approval

FDA 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.
Source: Mass Device - Category: Medical Devices Authors: Tags: Blog Business/Financial News Drug-Device Combinations Food & Drug Administration (FDA) Respiratory GlaxoSmithKline plc Mylan Novartis Source Type: news