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Teva gets European OK to sell generic of Lilly's Evista

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Teva Pharmaceutical Industries Ltd. won the backing of European drug regulators to sell a generic version of the Eli Lilly and Co. bone-loss drug Evista.

The European Medicines Agency’s Committee for Medicinal Products for Human Use recommended allowing the Teva copy, known generically as raloxifene, to be sold to treat and prevent osteoporosis in women after menopause. The Israeli generic-drug maker’s product is equivalent to Evista, the agency said in a statement posted on its Web site Fridayday.

A court in September blocked Teva’s attempt to sell the drug in the United States before Lilly’s patents expire. The ruling protects Evista through March 2014, Indianapolis-based Lilly said at the time. Teva is appealing the ruling.

Evista generated $1.03 billion in sales last year, of which $348.1 million came outside the U.S., Lilly said on Jan. 28.

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