Dr. Reddy inches higher after launching drug in US market

Dr. Reddy's Laboratories on Monday announced the launch of Sodium Nitroprusside injection, 50 mg/2 ml (25 mg/ml) single-dose vial in the US market.

Sodium Nitroprusside injection is the therapeutic generic equivalent of Nitropress (sodium nitroprusside) injection, approved by the U.S. Food and Drug Administration (USFDA). Nitropress is a trademark of Hospira, Inc.

The Nitropress brand and generics had U.S. sales of approximately $8 million MAT for the most recent twelve months ending in October 2019 according to IQVIA Health.

Sodium Nitroprusside is indicated for the immediate reduction of blood pressure of adult and pediatric patients in hypertensive crises. It is also indicated for producing controlled hypotension in order to reduce bleeding during surgery. It is used in treatment of acute congestive heart failure.

Shares of Dr. Reddy's Laboratories were trading 0.25% higher at Rs 2902. The stock is trading above its 20 days and 50 days simple moving averages placed at 2875.17 and 2840.77 respectively. These levels will act as crucial support levels in near term.

Dr. Reddy's Laboratories is an India-based pharmaceutical company with headquarters and registered office in Hyderabad, Telangana, India. Through its three businesses - pharmaceutical services and active ingredients, global generics and proprietary products - the company offers a portfolio of products and services, including active pharmaceutical ingredients (API), custom pharmaceutical services (CPI), generics, biosimilars, differentiated formulations and new chemical entities.

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