Actavis, Partner Develop Three-year IUD

Actavis Inc. said Friday it has received regulatory approval for a new intrauterine birth-control device that prevents pregnancy for up to three years. Working in conjunction with Medicines360, a nonprofit pharmaceutical company specializing in women's health, Actavis will start marketing the device, called Liletta, and plans to make it widely available to women regardless of income. The device is considered to be an IUD, placed in the uterus by a professional, and is designed to continuously release levonorgestrel, a progestin that prevents pregnancy, for up to 36 months. Actavis shares were up marginally to $291.11 in recent action.