The U.S. Food and Drug Administration on Monday approved Alkermes Plc's longer-acting injectable version of blockbuster schizophrenia pill Abilify, making the treatment available in two doses.

Abilify, developed by Japanese drugmaker Otsuka Pharmaceuticals and sold in the United States by Bristol-Myers Squibb Co, is already facing generic competition.

Alkermes' injectable version, Aristada, is expected to be launched immediately, the company said in a statement on Monday.

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