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Geodon gains approval in Europe
Pfizer's fast-growing antipsychotic drug gets the green light in 11 EU countries, two others.
November 1, 2005: 9:57 AM EST
By Aaron Smith, CNN/Money staff writer

NEW YORK (CNN/Money) - Pfizer's fast-growing antipsychotic drug Geodon has been approved for sale in Europe, the company said.

Geodon, a bipolar treatment known in Europe as Zeldox, was approved for market in 11 member states of European Union and two other countries, said Pfizer (up $0.06 to $21.80, Research) late Monday.

Sales for Geodon, also known as ziprasidone, totaled $148 million in the third quarter, an 18 percent jump from the same period in 2004, Pfizer reported. Geodon sales totaled $430 million during the first nine months of 2005, up 33 percent from the same period last year. The drug makes up 6 percent of all U.S. prescriptions, Pfizer said.

Pfizer, based in New York City, is the world's largest drug company, with $52.5 billion in 2004 sales. The company's top-selling drug is cholesterol-lowering Lipitor, with $10.8 billion in 2004 sales, the biggest drug revenue tally of all time.

To read about Pfizer's third-quarter earnings, click here.  Top of page

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