Novartis launches Fanapt

EAST HANOVER, N.J. Novartis has launched a new drug for treating schizophrenia in the United States, the Swiss drug maker announced Monday.

Novartis launched Fanapt (iloperidone) tablets, a twice-daily treatment that received approval from the Food and Drug Administration in May 2009. Schizophrenia is a chronic mental disorder that affects 2.4 million Americans.

“Schizophrenia remains one of the most debilitating and difficult-to-treat mental illnesses,” Novartis Pharmaceuticals Corp. CEO and head of the company’s North American pharmaceutical division Ludwig Hantson said. “The launch of Fanapt is important because there is a need for alternative medications for many individuals who are suffering from this disease.”