Dr Reddy's Laboratories rose 2.07% to Rs 4445.55 after the company announced the launch of Methylphenidate Hydrochloride extended-release tablets USP, in the US market.
Dr. Reddy's Laboratories on Thursday (3 September) announced the launch of Methylphenidate Hydrochloride extended-release tablets USP, 18 mg, 27 mg, 36 mg and 54 mg. The drug is a therapeutic equivalent generic version of Concerta brand approved by the US Food and Drug Administration (USFDA). The drug is used to treat attention deficit disorder (ADHD or ADD) in children and adults.The Concerta brand and generic market had US sales of approximately $1.159 billion MAT for the most recent twelve months ending in June 2020 according to IQVIA Health.
Dr. Reddy's Laboratories is an integrated pharmaceutical company. The drug major's consolidated net profit declined 12.59% to Rs 579.30 crore on 14.93% jump in revenue from operations to Rs 4,417.50 crore in Q1 June 2020 over Q1 June 2019.
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