Dr Reddy’s Laboratories is trading higher by 1.3% at Rs 2,335, extending its previous day’s nearly 4% rally, after the company secured the approval of the US Food and Drug Administration (USFDA) to launch injectible medicine azacitidine, which is used in the treatment of bone marrow cancer and blood cell disorders.
The company said azacitidine is a copycat version of US-based Celgene Corp.’s Vidaza. The launch of product in the market is planned in the near-term.
The VIDAZA® brand had U.S. sales of approximately US $379mn for the most recent twelve months ending July 2013 according to IMS Health.
The stock opened at Rs 2,320 and hit a high of Rs 2,343 on NSE. A combined 73,006 shares change hands on the counter so far on NSE and BSE.
The company said azacitidine is a copycat version of US-based Celgene Corp.’s Vidaza. The launch of product in the market is planned in the near-term.
The VIDAZA® brand had U.S. sales of approximately US $379mn for the most recent twelve months ending July 2013 according to IMS Health.
The stock opened at Rs 2,320 and hit a high of Rs 2,343 on NSE. A combined 73,006 shares change hands on the counter so far on NSE and BSE.
