Views on Dr. Reddys announces the Launch of Memantine Hydrochloride Tablets: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking)

Dr. Reddy's announces the Launch of Memantine Hydrochloride Tablets:

"Dr. Reddy's Laboratories (DRL) announced that it has launched Memantine hydrochloride tablets USP, 5 mg and 10 mg, a therapeutic equivalent generic version of NAMENDA® (memantine HCl) tablets in the US market on July 12, 2015 approved by the United StatesFood & Drug Administration (USFDA). The NAMENDA® (memantine HCl) tablets brand had U.S. sales of approximately US$ 1.4bn MAT for the most recent twelve months ending in May, 2015 according to IMS Health.

Dr. Reddy's Memantine hydrochloride tablets USP, 5 mg is available in bottle count size of 60 and the Memantine hydrochloride tablets USP, 10 mg are available in bottle count sizes of 60 and 500. There are 5 generic players, in the market already, besides DRL. The drug can contribute around US$ 50mn to the sales in FY2016. We maintain our ACCUMULATE rating with a price target of INR 4030."

Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.3809.95 as compared to the previous close of Rs. 3778.85. The total number of shares traded during the day was 13416 in over 1096 trades.

The stock hit an intraday high of Rs. 3819 and intraday low of 3785.1. The net turnover during the day was Rs. 51082645.

Source : Equity Bulls

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