A subsidiary of Sun Pharmaceutical Industries Ltd (NSE: SUNPHARMA) has received final approval from the US Food and Drug Administration (FDA) to market a generic version of Coreg CR (carvedilol phosphate) extended release capsules, 10 mg, 20 mg, 40 mg and 80 mg, the parent company confirmed on Thursday.

The drug is a generic version of GSK's (NYSE: GSK) Coreg CR. It will be issued to treat various heart conditions, like heart failure and high blood pressure.

IMS figures show that Coreg CR had annual sales of approximately USD208m in the US for the 12 months ended August 2017.

The company, which is headquartered in Mumbai and operates in India and the United States, is the world's fourth largest speciality generic pharmaceutical company.