Teva Pharmaceutical Industries Ltd. (TEVA) said the U.S. Food and Drug Administration approved the use of ProAir HFA with a dose counter to treat asthma in people at least four years old.

The FDA initially approved ProAir HFA in October 2004 to treat bronchospasm with reversible obstructive airway disease in adults, then it expanded the drug's use in September 2008 to patients as young as four.

The pharmaceutical company said the dose counter keeps track of the number of doses remaining in the canister

The new product will be commercially available later this year. Until then, patients prescribed ProAir HFA will continue to receive a standard inhaler.

Teva, the world's largest generic-drug maker, reported its third-quarter profit fell 13% as a sharp decline in its U.S. generic-drug sales weighed down overall revenue growth. ProAir sales rose 26% during the quarter to $115 million.

-By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com