The  U.S. Food and Drug Administration on Thursday approved Teva Pharmaceutical Industries Ltd's generic version of Mylan NV's EpiPen for the emergency treatment of allergic reactions.

"Today's approval of the first generic version of the most-widely prescribed epinephrine auto-injector in the U.S. is part of our longstanding commitment to advance access to lower cost, safe and effective generic alternatives once patents and other exclusivities no longer prevent approval," FDA Commissioner Scott Gottlieb said.