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Intellipharmaceutics International Inc.

03:49 PM EST - Intellipharmaceutics International Inc. : announced the filing of an Abbreviated New Drug Application (ANDA) with the U.S. Food and Drug Administration (FDA) for a generic of Seroquel XR(R) (quetiapine fumarate extended-release tablets). Seroquel XR(R) is an oral psychotropic agent indicated for the treatment of schizophrenia, bipolar disorder, and major depressive disorder. Sales of Seroquel XR(R) in the U.S. were approximately $823 million in 2010. Intellipharmaceutics International Inc. shares T.I are trading up $0.10 at $2.96.