According to Teva, Effexor has annual sales of approximately $152 million. The Israeli company said that it would begin to ship its generic version of the product immediately. The FDA has approved the product in 25mg, 37.5mg, 50mg and 100mg dosage strengths.
Teva also recently announced that its own branded product Copaxone, for the treatment of multiple sclerosis, has seen a healthy increase in sales over the last year. The drug produced sales of $353 million in the second quarter of 2006, representing an increase of 22% on the same period last year.
Teva said that Copaxone was the fasted growing treatment for multiple sclerosis last year with an increase of 19% in US sales and 26% in Europe.