Ivax Corporation announced that its subsidiary, Ivax Pharmaceuticals, Inc., has launched its glyburide/metformin HCl tablets. Ivax' 180-days of marketing exclusivity for its first-to-file status on glyburide/metformin HCl from the United States Food and Drug Administration (FDA) commences with the launch of this product.
Glyburide/Metformin HCl is the generic equivalent of Glucovance, marketed by Bristol-Myers Squibb to treat diabetes. U.S. sales for Glucovance were almost $500 million in 2003.
Ivax Corporation, headquartered in Miami, Florida, discovers, develops, manufactures, and markets branded and brand equivalent (generic) pharmaceuticals and veterinary products in the U.S. and internationally.