Mylan and Novartis start selling generic Diovan

NEW YORK (AP) — Mylan Inc. said Friday that it is now selling a generic version of Novartis AG's blood pressure drug Diovan HCT.

Mylan said the Food and Drug Administration approved the generic tablets, which are a combination of the drugs Valsartan and Hydrochlorothiazide. Novartis said it will start selling its own lower-cost generic version, and it will continue to sell brand-name Diovan and Diovan HCT.

The Swiss drugmaker said U.S. sales of the two products totaled $2.3 billion in 2011.

Mylan shares rose 6 cents to close at $24.55. Novartis rose 69 cents to end at $61.26.