|
 The
approval was granted to Viatris Inc, which was formed through the
merger of generic drugmaker Mylan Pharmaceuticals and Pfizer Inc's
off-patent drug business in 2020.
AbbVie acquired Restasis, which was approved in the United States
nearly two decades ago, through its $63 billion acquisition of
Allergan https://reut.rs/3uknllO Inc in 2020.
Allergan had sought to shield the drug's patents from a federal
administrative court's review by transferring them to a Native
American tribe in 2017. The bid was subsequently rejected by the
Supreme Court in 2019.
Restasis generated revenue of $1.29 billion for AbbVie in 2021, a
64% jump from a year earlier. Analysts are expecting the drug to
bring in revenue of $655.6 million in 2022, according to Refinitiv
IBES data.
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The drug is an immunosuppressive medicine, which works to increase
tear production by helping reduce inflammation associated with dry
eye.
AbbVie and Viatris did not immediately respond to Reuters' requests
for comment.
(Reporting by Amruta Khandekar; Editing by Krishna Chandra Eluri and
Anil D'Silva)
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