Dr Reddy's Lab inches up after launch of a generic in US

Dr Reddy's Laboratories rose 0.76% to Rs 2,794.95 at 9:17 IST on BSE after the company said it has launched Sumatriptan Injection USP, Autoinjector System 6 mg/0.5 ml, for subcutaneous use in the US market.

The announcement was made after market hours on Tuesday, 25 February 2014.

Meanwhile, the S&P BSE Sensex was up 43.72 points or 0.21% at 20,896.19.

On BSE, so far 556 shares were traded in the counter as against average daily volume of 20,000 shares in the past two weeks.

The stock hit a high of Rs 2,799 and a low of Rs 2,785.90 so far during the day.

Dr Reddy's Laboratories said it has launched Sumatriptan Injection USP, Autoinjector System 6 mg/0.5 ml, for Subcutaneous use, a therapeutic equivalent generic version of IMITREX STATdose Pen (Sumatriptan succinate) 6 mg/0.5 ml in the US market on 25 February 2014, following the approval by the United States Food and Drug Administration (USFDA).

The IMITREX STATdose Pen (Sumatriptan succinate) brand and generic combined had US sales of approximately $169 million for the most recent twelve months ended December 2013 according to IMS Health data.

Dr Reddy's Sumatriptan Injection USP, Autoinjector System 6 mg/0.5 ml is available in a carton containing 2 single-dose prefilled syringes.

Dr Reddy's Laboratories' consolidated net profit surged 70.2% to Rs 618.42 crore on 23.3% growth in net sales to Rs 3533.76 crore in Q3 December 2013 over Q3 December 2012.

Dr Reddy's Laboratories is an integrated global pharmaceutical company. Through its three businesses - Pharmaceutical Services and Active Ingredients, Global Generics and Proprietary Products - Dr. Reddy's offers a portfolio of products and services including active pharmaceutical ingredients (APIs), custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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