US FDA approves generic cholesterol-lowering pill

New York

THE US Food and Drug Administration (FDA) said on Wednesday that it had approved generic versions of the blockbuster cholesterol-lowering pill Crestor, rejecting a last-ditch and controversial effort by AstraZeneca to stop cheaper competition from reaching pharmacy shelves.

The move should considerably decrease the price of the drug and result in a sharp loss of market share for AstraZeneca. The brand-name drug has a retail price around US$260 a month, according to GoodRx.com. With multiple generics now coming onto the market, the price could eventually drop as much as 80 to 90 per cent.