There is no shortage of success stories among generic-drug makers these days. Yesterday, IVAX (AMEX:IVX) shares jumped 5% after the company received tentative Food and Drug Administration approval to market generic versions of Neurontin, Pfizer's (NYSE:PFE) $2.2 billion epilepsy drug.
Ivax said that it believes it has first to file status for 100 mg, 300 mg, and 400 mg tablets of the drug, called gabapentin. The company has also filed an abbreviated new drug application (ANDA) for the 600 mg and 800 mg versions of the drug.
The ultimate approval for gabapentin is dependent on the outcome of a legal dispute, as Pfizer has sued both IVAX and Alpharma (NYSE:ALO) for patent infringement. Alpharma received tentative FDA approval for its own 100 mg, 300 mg, and 400 mg versions of gabapentin in September.
Generics have been a hot topic lately. Earlier this month, shares of Watson Pharmaceuticals (NYSE:WPI) got a huge bump following the company's earnings report. A week earlier, Israeli drugmaker Teva Pharmaceuticals (NASDAQ:TEVA) bolstered its generic position with the acquisition of SICOR (NASDAQ:SCRI).
Another of IVAX's recent successes came at the end of September, when the company gained tentative U.S. approval to market a generic version of Johnson & Johnson's (NYSE:JNJ) anti-seizure drug, Topamax. And with a stuffed pipeline, IVAX is definitely another generic story worth watching.
Talk generics on the IVAX discussion board -- only at Fool.com. Jeff Hwang can be reached at [email protected].
