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news.The FDA has granted approval for Teva's generic equivalent of Novartis' Desferal for injection, a product indicated for acute treatment of iron intoxication and chronic iron overload due to transfusion-dependent anemias.
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According to the Israel-based generic drugmaker, total annual sales of the product are approximately $43 million.
Teva also recently expanded its presence in the Chinese pharmaceutical market by increasing its equity ownership in Tianjin Hualida Biotechnology in Tianjin, from 45% to 60%. Hualida Biotechnology is a manufacturing-based enterprise involved in research and development and marketing of genetic recombinant medicines, highly purified proteins, anti-virus and anti-tumor chemicals and natural products.
Teva originally acquired its 45% equity ownership in Hualida through the Sicor acquisition in 2004. Teva’s partner in Hualida will continue to be Tianjin Zhongxin Pharmaceutical Group , which is owned by Tianjin Pharmaceutical Holdings, a leading Chinese pharmaceutical group.