Dr Reddy's Lab rallies on launch of Nexium's generic version

Dr Reddy’s Laboratories has rallied 6% to Rs 4,223 on the BSE in otherwise subdued market after the drug maker announced the launch of Esomeprazole Magnesium Delayed-release capsules, which is the generic version of AstraZeneca's Nexium, in the US market.

“The company has launched Esomeprazole Magnesium Delayed-Release Capsules USP 20 mg and 40 mg, a therapeutic equivalent generic version of AstraZeneca Plc's Nexium in the US market on September 25, 2015, following the approval by the United States Food & Drug Administration (USFDA),” Dr Reddy’s Laboratories said in a press release.

The Nexium® (esomeprazole magnesium) Delayed-Release capsules brand and generic had U.S. sales of approximately $5.2 billion MAT for the most recent 12 months ending July 2015, according to IMS Health.

At 10:52 a.m., the stock was up 5.3% at Rs 4,182 on the BSE.  The trading volumes on the counter more than doubled with a combined 448,787 shares changed hands on the BSE and NSE so far.

 


Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel