A Generic Exelon

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A Generic Exelon

(Source: Bloomberg.com) - The drugmaker, Dr. Reddy's Laboratories

(India), has secured initial approval from the U.S. Food and Drug

Administration to sell a generic form of the drug Exelon

(rivastigmine tartrate) to treat persons with Alzheimer's disease.

To read the full story go to bloomberg.com. (see below)

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Dr. Reddy's Has Initial Approval for Alzheimer's Drug (Update1)

June 15 (Bloomberg) -- Dr. Reddy's Laboratories Ltd., India's third-

biggest drugmaker, secured initial approval from the U.S. Food and

Drug Administration to sell a drug used in the treatment of

Alzheimer's disease. The shares gained.

The Hyderabad, India-based company has been given a ``tentative''

approval to sell Rivastigmine Tartrate capsules, the administration

said on its Web site. The drug is a generic copy of Novartis AG's

Exelon, sold for dementia in Alzheimer's patients, as the first

treatment for the same condition in people with Parkinson's disease.

Indian drugmakers such as Dr. Reddy's are seeking to take advantage

of the fast-growing market for less costly generic versions of brand-

name drugs in Europe and the U.S. Sales of generics in the eight

biggest pharmaceuticals markets, including the U.S., Canada, France

and Germany, exceeded $55 billion in 2005, according to IMS Health

Inc., a Fairfield, Connecticut- based research company.

Dr. Reddy's shares, which increased 20 percent since the start of the

year, rose 10.55 rupees, or 0.9 percent, to 1,175 rupees at 10:58

a.m. local time on the Bombay stock exchange. They gained as much as

4.3 percent earlier today.