Teva Pharmaceutical Industries Ltd. (TEVA) launched Rajani, the generic version of Bayer's Beyaz birth control pill, in the United States. (See also: Why Teva Pharma Continues to Sell Assets.)

Rajani is now available in a 28-day blister pack dispenser.

In addition to its use as a contraceptive, Teva said Rajani can boost folate levels, treat moderate acne, and ease premenstrual dysphoric disorder.

Rajani will compete against Bayer's Beyaz brand-name birth control pill, whose annual sales top $133 million. 

A generic drug is a low-cost version of a chemically equivalent brand-name drug. A brand-name drug and its generic version must have the same active ingredient, dosage, safety, strength, usage directions, quality, performance and intended use.

Market Could Top $33 Billion

The worldwide oral contraceptive market could exceed $33 billion by 2023, according to research firm Global Market Insights. Sales of birth control pills topped $19.8 billion in 2015, and $13.1 billion in 2014.

With almost 600 generic medicines in its portfolio, Teva has the largest line of Food And Drug Administration (FDA)-approved generic drugs on the market. (See also: Teva's Focus Is Branded and Generics.)

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