Barr Laboratories, Inc., a subsidiary of Barr Pharmaceuticals, Inc, has received final approval from the US Food and Drug Administration (FDA) for its application to manufacture and market a generic version of Pfizer Inc.'s Xanax Xr (Alprazolam Extended-Release) tablets, 0.5 mg, 1 mg, 2 mg and 3 mg. The company intends to launch its product immediately.

Xanax Xr Tablets are indicated for the treatment of panic disorder, with or without agoraphobia.

Barr's Alprazolam has extended to release tablets, will compete in a market, that had total annual sales of approximately $83 million for the twelve months ending May 2006, according to IMS sales data.

Barr Pharmaceuticals, Inc. is a holding company whose principal subsidiaries, Barr Laboratories, Inc. and Duramed Pharmaceuticals, Inc., develop, manufacture and market generic and proprietary pharmaceuticals.