Dr Reddy's Lab shares surge 5% on USFDA nod for opioid drugs

Shares of Dr Reddy's Laboratories today gained nearly 5 per cent after the company received final approval from the US health regulator for generic version of Suboxone, prescribed for opioid addiction.

The stock surged 4.65 per cent to Rs 2,374 on BSE.

At NSE, shares of the company went up by 4.80 per cent to Rs 2,378.50.

The stock was the top gainer among the blue chips on both the key indices during the morning trade.

"The product approved by the US Food and Drug Administration (USFDA) is a therapeutic equivalent generic version of Suboxone (buprenorphine and naloxone) sublingual film," Dr Reddy's Laboratories said in a BSE filing.

The company, which is launching the product in the US, said approval has been granted in the strengths of 2 mg/0.5 mg, 4 mg/1 mg, 8 mg/2 mg, and 12 mg/3 mg.

"Buprenorphine helps suppress withdrawal symptoms caused by discontinuation of opioid drugs, and naloxone reverses and blocks the effect of opioids. This combination of medications is used as part of a complete treatment program including prescription monitoring, counseling, and psychosocial support," Dr Reddy's Laboratories said.