Dr. Reddy's Laboratories advanced 1.15% to Rs 4340.75 after the company announced the launch of Posaconazole delayed-release tablets in the U.S. market.
Posaconazole delayed-release tablets, the therapeutic generic equivalent to NOXAFIL (posaconazole) delayed-release tablets, has been approved by the U.S. Food and Drug Administration (US FDA).
Posaconazole is used to prevent certain fungal infections in patients who have severely weakened immune systems (such as patients who have had chemotherapy). It belongs to a class of drugs known as azole antifungals. It works by stopping the growth of fungi.
The NOXAFIL brand and generic had U.S. sales of approximately $140.8 million MAT for the most recent twelve months ending in February 2022 according to IQVIA.
Dr. Reddy's Laboratories is an integrated pharmaceutical company. It offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations. Its major markets include - USA, India, Russia & CIS countries, and Europe.
On a consolidated basis, the drug maker reported a net profit of Rs 706.50 crore in Q3 December 2021, steeply higher than 19.80 crore in Q3 December 2020. Revenue from operations rose 7.91% YoY to Rs 5,319.70 crore in in Q3 FY22.
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