NEW YORK – Mylan Inc said Tuesday it signed a licensing and supply deal for a generic version of Teva Pharmaceutical Industries Ltd's big-selling Copaxone multiple sclerosis treatment, and Teva shares fell nearly 3 percent.

Mylan's deal with India's NATCO Pharma Ltd involves access to NATCO's pre-filled syringes of glatiramer acetate, the generic name for Copaxone.

Under the agreement, Mylan gains exclusive distribution rights in the United States, all major markets in Europe, Japan and elsewhere. NATCO already has commercialized its glatiramer acetate product in India and Ukraine, Mylan said in a news release. Mylan did not specify financial terms of the NATCO agreement.

Copaxone is a critical product for Teva, with its sales rising 21 percent to $1.7 billion last year. It is the leading brand drug for the Israel-based company, which is also one of the world's largest sellers of generic medicines.

Teva shares fell $1.31 to $43.45 in early electronic trading from their Monday close of $44.76 on Nasdaq.

(Reporting by Lewis Krauskopf, editing by Dave Zimmerman)