UPDATE 1-Labopharm's antidepressant drug gets generic threat

* Says the drug has market exclusivity until Feb. 2, 2013 * Says reviewing the notice letter to determine next step Nov 12 (Reuters) - Canada's Labopharm Inc said it was notified by Actavis that the generic drugmaker filed with the U.S. health regulator for a copycat version of Labopharm's antidepressant drug, Oleptro. Labopharm, which specializes in controlled-release drugs, said the drug has a market exclusivity period until Feb. 2, 2013. The Canadian biotechnology company said it is currently reviewing the notice letter to determine the next step. In February, the U.S. Food and Drug Administration approved Labopharm's once-daily antidepressant, but its shares fell on worries that it could face tough competition from generics. Labopharm shares, which have lost nearly two-thirds of their value since it received FDA approval for Oleptro, closed at 98 Canadian cents on the Toronto Stock Exchange on Thursday. (Reporting by Anand Basu in Bangalore; Editing by Anne Pallivathuckal) Keywords: LABOPHARM/ (anand.basu@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging:anand.basu.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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