Endo Pharmaceuticals gets green light for generic version of Plendil

Endo Pharmaceuticals (NASDAQ: ENDP) has received approval from the Food and Drug Administration for its drug Felodipine extended-release tablets, a generic version of AstraZeneca‘s (NYSE: AZN) drug, Plendil.

The cardiovascular drug tallied $196 million in sales for AstraZeneca for the first nine months of 2011.

The total sales for Felodipine in the U.S. for the 12 months ended June 30, 2011 were approximately $84 million, according to IMS Health.

Endo, in Chadds Ford, Pennsylvania, saw a 439 percent surge in generic drug sales in the third quarter over the previous year to $148 million, primarily driven by its acquisition of Qualitest Pharmaceuticals in Huntsville, Alabama.

The company is preparing to relocate to larger facilities in Malvern, Pennsylvania by December 2012 as part a long-term growth strategy.