Bentley Up on FDA Approval of Generic Zocor

Shares of Bentley Pharmaceuticals (BNT) were up more than 11% on Friday after the company announced that its U.S. marketing partner, Perrigo Company, has received marketing approval for simvastatin 5 mg, 10 mg, 20 mg, 40 mg and 80 mg tablets.

The FDA also determined that these formulations are equivalent to Merck's (MRK) Zocor. Simvastatin will be manufactured at Bentley's facility in Spain. The company has already initiated the manufacturing process for fast introduction into the U.S. market.

Shares of Bentley were trading above $11 at one point during morning trading hours. The company's total stock worth is just under $250 million. Bentley holds cash of just over $20 million with a debt of $380 thousand as last reported on Yahoo!Finance.
Annual sales and net profit have been increasing substantially over the last few years.

On November 9 a company director purchased almost $50 thousand worth of stock at $9.85 a share.

BNT 1-yr chart: