Dr Reddy's Labs rises on launching anti-smoking drug in US market
Dr Reddy's Laboratories rose 2.66% to Rs 2,671 after the company launched Bupropion Hydrochloride extended-release tablets in the US market.
Dr. Reddy's Laboratories announced the launch of Bupropion Hydrochloride extended-release tablets, USP (SR), a therapeutically equivalent generic version of Zyban tablets, approved by the US Food and Drug Administration (USFDA).
The drug is a non-nicotine aid to smoking cessation. The Zyban brand and generic had US sales of approximately $5.4 million MAT for the most recent twelve months ending in June 2019 according to IQVIA Health.
Dr. Reddy's Bupropion Hydrochloride Extended-Release Tablets, USP (SR) are available as 150 mg dosage strength in bottle count sizes of 60. The announcement was made during the trading hours today, 5 September 2019.
Shares of Dr Reddy's Laboratories gained 5.49% in two trading sessions to its current market price of Rs 2,671, from a recent closing low of Rs 2,531.90 on 3 September 2019.
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On BSE, 17,000 shares were traded in Dr Reddy's Laboratories counter, compared to a 2-week average of 17,000 shares. The share price hit an intraday high of Rs 2,675.80 and an intraday low of Rs 2,620.
It hit a 52-week high of Rs 2,965.20 on 2 May 2019 and a 52-week low of Rs 2,065.30 on 15 February 2019.
Dr Reddy's Laboratories is a pharmaceutical company that is engaged in providing medicines.
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First Published: Sep 05 2019 | 3:06 PM IST