MYLAN WINS NOD FOR GENERIC ADVAIR; SHARES JUMP 7 PERCENT
Shares of local generic drug giant Mylan shot higher Wednesday after the company won Food and Drug Administration approval for its generic copy of GlaxoSmithKline's Advair.
The inhaler is used to treat asthma and chronic obstructive pulmonary disease.
Mylan had suffered a number of setbacks on the road to approval, with the FDA rejecting its drug application for a second time in June. In October, Mylan had told analysts that approval was imminent.
Shares added $2.05, or 7 perce...