Caraco Adds Two Generics

Detroit-based Caraco Pharmaceutical Laboratories Ltd. (NYSE Amex: CPD) announced that it has started shipping azelastine ophthalmic solution, 0.05 percent, and rivastigmine tartrate capsules.

The solution is therapeutically equivalent to Optivar Ophthalmic Solution, 0.05 percent from Medpoint Pharmaceuticals, which has annual sales of approximately $50 million in the United States. Azelastine ophthalmic solution is indicated for treatment of the itching of the eyes associated with allergic conjunctivitis.

The capsules are therapeutically equivalent to Exelon capsules from Novartis. Rivastigmine tartrate is indicated for treatment of mild to moderate Alzheimer’s dementia and mild to moderate Parkinson’s disease dementia. Exelon capsules have annual sales of approximately $130 million in the U.S.

Detroit-based Caraco develops, manufactures, markets and distributes generic pharmaceuticals to the nation’s largest wholesalers, distributors, drugstore chains and managed care providers.

(c) 2010, WWJ Newsradio 950. All rights reserved.

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