Page 6 - Dr Reddys

Dr Reddy's, Coya Therapeutics ink licensing agreement for ALS cure drug

Dr Reddy's Laboratories on Wednesday said its unit has inked a licensing agreement with Coya Therapeutics Inc to develop a combination therapy for the treatment of amyotrophic lateral sclerosis (ALS). Dr Reddy's Laboratories SA and Coya have entered into a development and license agreement for the development and commercialisation of COYA 302, an investigational combination therapy for ALS, the Hyderabad-based drugmaker said in a statement. As per the terms of the agreement, Coya has granted Dr Reddy's an exclusive licence to commercialise COYA 302 in the US, Canada, the European Union and the UK for ALS. Coya retains the right to commercialise COYA 302 in Japan, Mexico, and each country in South America. As per the agreement, Coya will have responsibility for the clinical development of COYA 302 and for seeking regulatory approval for COYA 302 for patients with ALS in the US. As per the deal, Dr Reddy's will make a USD 7.5 million upfront payment to Coya. Upon the first FDA ...

Dr Reddy's, Glenmark recall products in US due to manufacturing issues

Dr Reddy's Laboratories, Glenmark Pharma and Zydus are recalling products in the US market for manufacturing issues, according to the US Food and Drug Administration (USFDA). In its latest enforcement report, the US health regulator said Princeton-based Dr Reddy's Laboratories, Inc, a unit of the Hyderabad-based drug firm, is recalling 1,656 bottles of Montelukast sodium tablets. The product is indicated to prevent wheezing, breathing difficulty, chest tightness, and coughing caused by asthma in adults. As per the USFDA, the company is recalling the affected lot due to "the presence of foreign tablets and capsules." A foreign tablet was found in a bottle of Montelukast sodium tablets, USP 10mg, identified as metoprolol 25 mg, it added. The company initiated the Class II voluntary recall on October 13 this year. The USFDA noted that Mahwah-based Glenmark Pharmaceuticals Inc, USA, a unit of Mumbai-based Glenmark Pharma, is recalling 5,856 bottles of Deferasirox tablets for oral ...

Sensex drops 326 pts, Nifty below 19,450; PSBs, metals rally, IT sinks

Closing Bell on November 13, 2023: SBI Life, Bajaj Finance, Grasim, Infosys, Nestle India, Apollo Hospitals, Tech M, ICICI Bank, and HDFC Bank were the top laggards

Stocks to Watch: Reliance, Ultratech Cement, AU SFB, NTPC, Gujarat Gas, MGL

Stocks to watch on October 30, 2023: Fincare Small Finance Bank is set to merge with AU Small Finance Bank (AU SFB) in an all-share deal; Gujarat Gas has hiked industrial gas price to Rs 45.6 per scm

Dr Reddy's Q2 results: Net profit after tax rises 33% to Rs 1,482 crore

Consolidated quarterly revenue rose 9% to 69.03 billion rupees led by a 9% growth in the key global generics segment

Max Fin, JSP, Oberoi: Strategy for stocks with highest F&O rollover to Nov

Dr.Reddy's, Apollo Tyres and Jindal Steel are among the five stocks which have seen rollovers of up to 88 per cent to the November series.

Stocks to Watch: Dr Reddy's, Mazagon Dock, Adani Ports, Concor, Inox Green

Stocks to Watch on October 10, 2023: CLSA said that the war presented an even better buying opportunity in Adani Ports

Stocks to Watch: Tech M, Axis Bank, Dr Reddy's, RVNL, M&M, RBL Bank, AMCs

Stocks to watch on July 27, 2023: The govt is going to sell up to a 3.4 per cent stake in Rail Vikas Nigam with an option to additionally sell 1.96 per cent stake via an OFS

Global spending on Covid predicted to touch $500 bn by 2027: Dr Reddy's

Though the World Health Organisation lifted the emergency tag on COVID-19, global spending on the disease, including research to improve the understanding of long-term complications and the presence of post-acute sequels of the killer virus, is expected to touch USD 500 billion by 2027, pharma major Dr Reddy's Laboratories has said in its latest annual report. The report, released on Monday, further said the health systems have responded well by developing vaccines with significant efficacy, safety, and speed. However, with the inconsistent use of vaccines and therapeutics, the next few years are not without uncertainties, especially with the periodic emergence of infections and viral variants. "At the same time, research has been ongoing to improve the understanding of the long-term complications and the presence of post-acute sequels of COVID-19. Considering this, it is believed that COVID-19 will still be a major driver for global medicine spending in the coming years. Global ...

Dr Reddy's to enhance presence in emerging segments like nutraceuticals

Dr Reddy's Laboratories is looking to enhance its presence in various emerging segments like nutraceuticals and aims to get into integrated digital healthcare services as part of its future growth plans. In its Annual Report for 2022-23, the Hyderabad-based drug major informed the shareholders that it also intends to follow a disciplined approach towards cash management and acquisitions. "We are exploring business spaces that we think will shape the healthcare of the future. These include deepening our presence in nutraceuticals, cell and gene therapy and new chemical entities (NCEs)," Dr Reddy's Laboratories Chairman K Satish Reddy said. The drug firm is also exploring new spaces such as integrated digital healthcare services, digital therapeutics, and disease management, he added. "While these are long gestation businesses, and we are early in their development, we have made some progress," Reddy said. The drug firm informed the shareholders that it has a strategy in place which

Over one-third Nifty50 stocks look weak on charts. Time to be cautious?

Among banking majors, Axis Bank, ICICI Bank, HDFC Bank and State Bank of India (SBI) appear on track to hit new all-time high in the weeks ahead, charts suggest

Dr Reddy's Labs sinks 7% on disappointing Q4 operating performance

In Q4, the company's North America's revenue declined 17 per cent QoQ to Rs 2,530 crore, due to fluctuations in demand for new launches.

Sensex climbs 179 pts in fag-end, Nifty tops 18,300; auto, bank stocks lead

CLOSING BELL: The fag-end rally was powered by IndusInd Bank, Bajaj Finance, Tata Motors, Reliance Industries, HDFC Bank, Maruti Suzuki, and Bajaj Finserv

Eris down 4% in 2 days post acquisition of 9 derma brands from Dr Reddy's

Eris Life said that the transaction would help augment and expand cosmetic dermatology business of the company through their product offerings

Eris Lifesciences Ltd buys 9 dermatology brands from Dr Reddy's for $33 mn

Eris and Dr. Reddy's did not immediately respond to Reuters' requests seeking the names of the dermatology brands

Sensex gains 124 pts, Nifty tops 17,750; IndusInd Bank up 5%, Adani Port 3%

CLOSING BELL: Bottom fishing in select heavyweights lifted benchmark indices off lows, leading to a positive close for a third consecutive day on Wednesday

Dr Reddy's recalls over 4,000 bottles of drug in US due to packaging error

Dr Reddy's Laboratories is recalling over 4,000 bottles of a generic drug in the US due to a packaging error. The Hyderabad-based drug major is recalling 4,320 bottles of Tacrolimus Capsules which are used to prevent the body from rejecting a transplanted organ. New Jersey-based Dr Reddy's Laboratories Inc, a unit of the company, is recalling the affected lot due to "Presence of one Tacrolimus 1 mg capsule co-mingled in a bottle containing and labeled as Tacrolimus 0.5 mg capsules," USFDA said in its latest Enforcement Report. The affected lot was produced at the company's Bachupally-based manufacturing plant and marketed in the US by its American arm. Dr Reddy's initiated the Class II nationwide recall on February 8 this year. As per USFDA, a Class II recall is initiated in a situation in which use of, or exposure to, a violative product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remot

Dr Reddy's acquires Mayne Pharma's USA prescription portfolio for $105 mn

The acquisition will complement DRL's US retail prescription pharmaceutical business with limited competition products

Dr Reddy's, Sun Pharma recall products in US for manufacturing issues

Drug majors Dr Reddy's Laboratories and Sun Pharma are recalling different products in the US market for manufacturing issues, according to the US Food and Drug Administration. As per the enforcement report by the US health regulator, the US-based arm of Dr Reddy's Laboratories is recalling over 48,000 cartons of a drug used to treat sneezing, runny or stuffy nose. It is recalling 25,176 cartons of 30-count tablets and 22,968 cartons of 20-count tablets. According to USFDA, Dr Reddy's Laboratories is recalling the affected lot due to "failed stability specifications". New Jersey-based Dr Reddy's Laboratories, Inc initiated the Class III recall on November 21 this year. As per USFDA, a Class III recall is initiated in a "situation in which use of, or exposure to, a violative product is not likely to cause adverse health consequences". The health regulator further said the US-based arm of Sun Pharma is recalling 14,064 cartons of a medication to treat erosive esophagitis or heartburn

Dr Reddy's lines up Rs 1,500 cr capex, to focus on biosimilars, injectables

Dr Reddy's Laboratories has earmarked a capex of around Rs 1,500 crore for FY23 with major part of it slated to go into building capacities for its biosimilar and injectable businesses, according to CFO Parag Agarwal. The Hyderabad-based drug major also plans to utilise the capital for adding capacities to existing plants, firm up R&D activities and further invest in digitisation projects. "The capex for the full year is likely to be around Rs 1,500 crore in that range, and a lot of this capex is towards building capacity for our biosimilar business and for our injectable business," the chief financial officer said in an analyst call. He was replying to a query about the company's capex plans for ongoing financial year. "When we say capex, obviously, it is not all going into building new plants. So, there will be several additions to existing plants, there will be maintenance capex, there will be capex on digitalisation projects, on R&D facility. So, it is all put together," .