Mylan settles with Wyeth over antidepressant

PITTSBURGH Mylan has received a license to manufacture its generic version of a drug used to treat major depressive disorder, the generic drug maker announced Tuesday.

Mylan said it received a non-exclusive license for venlafaxine hydrochloride extended-release capsules in the 37.5-mg, 75-mg and 150-mg strengths as part of a settlement with Wyeth, recently acquired by Pfizer.

The drug is a generic version of Wyeth’s Effexor XR, which had sales of about $2.9 billion during the 12-month period ended Sept. 30, according to IMS Health. Under the agreement, Mylan will be allowed to launch the drug on June 1, 2011.