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Mylan and Novartis Start Selling Generic Diovan

From Associated Press (September 21, 2012)

NEW YORK -- Mylan Inc. said Friday that it is now selling a generic version of Novartis AG’s blood pressure drug Diovan HCT.

Mylan said the Food and Drug Administration approved the generic tablets, which are a combination of the drugs Valsartan and Hydrochlorothiazide. Novartis said it will start selling its own lower-cost generic version, and it will continue to sell brand-name Diovan and Diovan HCT.

The Swiss drug maker said U.S. sales of the two products totaled $2.3 billion in 2011.

Mylan shares rose 6 cents to close at $24.55. Novartis rose 69 cents to end at $61.26.

Posted: September 2012