Dr Reddy's may launch 3 new drugs in US next fiscal

Home-grown pharma major Dr Reddy's Laboratories may launch three new drugs in the US market next fiscal after the settlement of disputes with foreign players over the rights to two of them and a favourable court ruling in a third case.

According to Dr Reddy's, the city-based drug-maker may launch Rivastigmine, an anti-mild-to-moderate Alzheimer's drug, Desloratadine, used to treat allergies and Pseudoephedrine, a nasal/sinus decongestant.

In 2008, the company entered into a settlement agreement with Novartis Pharma that involves a stipulation of dismissal of lawsuits filed in the United States relating to Rivastigmine capsules sold under the trade name Exelon.

Dr Reddy's inked agreements in 2009 with Schering and Sepracor of the USA, which will allow the Indian drug-maker to manufacture and market generic versions of Desloratadine, starting 2012.

Similarly, Dr Reddy's got a shot in the arm after the US District Court of New Jersey recently cleared decks for the launch of the generic version of Allegra-D 24 in USA. This product may also be launched next year, the company said.

The revenues from generic sales in North America stood at $301 million in the last fiscal and $287 million so far this year, it said.

When contacted, Dr Reddy's Chief Financial Officer (CFO) Umang Vohra said the company was confident of achieving a 18 to 22% ROCE (return on capital employed) as far as revenues from USA this fiscal are concerned.