New prostate cancer therapy earns FDA approval

The Food and Drug Administration recently approved ANI Pharmaceuticals' nilutamide tablets.

The Baudette, Minn.-based company's generic tablets are intended to treat metastatic prostate cancer when used in combination with surgical castration.

The nilutamide tablets will hit the market immediately, marking ANI's eighth new product launch since the start of the second quarter of 2016.

The generic drug will compete against Bridgewater, N.J.-based Sonofi's brand name version called Nilandron, which produced $23 million in sales last year.

More articles on the drug market:

FDA approves Crestor's generic rivals, much to Astrazeneca's dismay
India's growing role in the US generic drug market: 5 things to know
Patients expect discounts for soaring drug costs: 3 things to know

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