The drug major on Monday announced approval from the US drug regulator for Xeglyze lotion, used in treatment of head lice infestation.Dr.Reddy's Laboratories has received approval for Xeglyze (abametapir) lotion from the U.S. Food and Drug Administration (USFDA). The approval triggers the contractual pre-commercialization milestone of $20 million payable to Hatchtech.
The lotion is indicated for the topical treatment of head lice infestation in patients 6 months of age and older. The company is working to commercialize this product through partners.
The scrip fell 1.04% to Rs 4,021.55, declining for second consecutive day. The stock has fallen 2.59% in two sessions from its recent closing high of Rs 4,128.55 recorded on 23 July 2020.
Dr. Reddy's Laboratories is an integrated pharmaceutical company. Through its three businesses - pharmaceutical services & active ingredients (PSAI), global generics and proprietary products - the company offers a portfolio of products and services including APls, custom pharmaceutical services, generics, biosimilars and differentiated formulations.
The drug major's consolidated net profit jumped 76% to Rs 764.20 crore on a 10% rise in revenues to Rs 4431.80 crore in Q4 March 2020 over Q4 March 2019. EBITDA margins stood at 22.6% in Q4 March 2020 as compared to 22% in Q4 March 2019.
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