Barr Pharmaceuticals Inc. (BRL)

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Barr gets FDA approval for generic contraceptive
Friday May 9, 3:58 pm ET
Barr Pharmaceuticals gets FDA approval for generic contraceptive as patent dispute continues

MONTVALE, N.J. (AP) -- Drug developer Barr Pharmaceuticals Inc. said Friday the Food and Drug Administration granted final approval for its generic version of Bayer's oral contraceptive Yasmin.

In March, the U.S. District Court for the District of New Jersey ruled in favor of Barr and found Bayer's patent on the drug invalid. Bayer has appealed the ruling in the U.S. District Court of Appeals for the Federal Circuit.

Bayer is also suing Watson Pharmaceuticals and Sandoz over their applications to market a generic version of Yasmin.

Shares of Barr rose 96 cents, or 2.5 percent, to $39.06 in afternoon trading. The stock has traded between $37.40 and $58.38 over the last 52 weeks.