Mylan (NASDAQ:MYL) is shipping out a new generic version of a branded treatment. The company announced today that its American subsidiary, Mylan Pharmaceuticals, has begun the sale of Repaglinide, the generic form of Novo Nordisk's (NYSE:NVO) Prandin, in the U.S. market. Repaglinide tablets are sold in 0.5 milligram, 1 milligram, and 2 milligram configurations.

Repaglinide/Prandin is a treatment described by Mylan as "an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus."

Mylan is one of the more prominent generic producers on the market. Although the value of branded drugs losing patent protection dropped by around $25 billion to hit $30 billion in 2013, that number is expected to rise to $34 billion this year and balloon to $66 billion in 2015.