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Mylan Inc. said Thursday it received Food and Drug Administration marketing approval for a generic version of Pfizer Inc.'s drug Procardia XL, which is approved to treat angina and high blood pressure.
Mylan said U.S. sales totaled $234 million in the 12 months ended March 31, according to IMS Health.
The FDA's approval includes 30 milligram, 60 milligram and 90 milligram extended-release tablets of Procardia, or nifedipine.
Mylan shares slid 8 cents to $17.71 in afternoon trading, while Pfizer stock lost 36 cents, or 2.4 percent, to $14.52.