Dr. Reddy's Laboratories rose 2.37% to Rs 5143.45 after the drug major announced the launch of Dexmedetomidine Hydrochloride Sodium Chloride Injection on US markets.
The injection is a therapeutic equivalent generic version of Precedex approved by the U.S. Food and Drug Administration (USFDA). It is an anxiety reducing, sedative, and pain medication.According to IQVIA Health, the Precedex in 0.9% Sodium Chloride Injection brand and generic market had US sales of approximately $210 million for the most recent twelve months ending in June 2020.
Commenting on the launch, Marc Kikuchi, CEO North America Generics of Dr. Reddy's Laboratories said, We are pleased to bring this important generic product to market, making it affordable and readily available for patients. Our ability to adequately supply Dexmedetomidine is important for patients as it is on the FDA's Drug Shortage list.
In last one month, Dr. Reddy's Laboratories has gained 16.23% as compared to a 1.19% rise in Nifty Pharma index.
Dr. Reddy's Laboratories is an integrated pharmaceutical company.
The drug major's consolidated net profit skid 12.11% to Rs 594.60 crore on 14.93% jump in revenue from operations to Rs 4,417.50 crore in Q1 June 2020 over Q1 June 2019.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app