BRIEF—Amneal's generic Exelon approved in USA

USA-based Amneal Pharmaceuticals today announced that it has received US Food and Drug Administration approval for a generic version of Exelon Patch (rivastigmine transdermal system).

The company is planning to commercialize its rivastigmine transdermal system shortly.

The branded drug is marketed by Novartis and is used to treat mild to moderate dementia caused by Alzheimer's or Parkinson's disease.

"We are pleased to receive approval on the company's first transdermal product, which demonstrates our commitment to develop and bring to market complex generic products," said Rob Stewart, president and chief executive of Amneal.

"Our diverse pipeline of approximately 220 products is expected to deliver additional complex product approvals this year and help us achieve our goal of launching up to 50 generic products in 2019," he added.

According to IQVIA, US market annual sales for the 12 months ended November 2018 for rivastigmine transdermal system is estimated to be around $225 million.