Caraco gets FDA approval to produce new generic

Caraco Pharmaceutical Laboratories has gotten the go-ahead from the U.S. Food and Drug Administration to market a generic version of a drug that treats symptoms of gout and the side effects of cancer therapy.

Excerpt:

Caraco (Amex: CPD) plans to market Allopurinol as a generic equivalent to Zyloprim.

For the year that ended June 30, Allopurinol generic and Zyloprim brand products had combined sales of approximately $33 million, according to figures from Integrated Management System Data cited by Caraco in a release.

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