Views on Dr. Reddy's Announces the Launch of Esomeprazole Magnesium Delayed-Release Capsules USP, 20 mg and 40 mg: Angel Broking

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

Dr. Reddy's Announces the Launch of Esomeprazole Magnesium Delayed-Release Capsules USP, 20 mg and 40 mg

Dr Reddy's Laboratories announced today that it has launched Esomeprazole Magnesium Delayed-Release-Capsules USP, 20 mg and 40 mg, a therapeutic equivalent generic version of NEXIUM® (esomeprazole magnesium) Delayed-Release Capsules in the US market on September 25, 2015, following the approval by the United States Food & Drug Administration (USFDA).The NEXIUM® (esomeprazole magnesium) Delayed-Release Capsules brand and generic had U.S. sales of approximately US$5.2bn on MAT for the most recent twelve months ending in July 2015 according to IMS Health. The product is expected to contribute around US$30-50mn in sales. We maintain our accumulate rating on stock with a price target of INR 4238.

Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.4191.85 as compared to the previous close of Rs. 3971.65. The total number of shares traded during the day was 49668 in over 6773 trades.

The stock hit an intraday high of Rs. 4222.75 and intraday low of 3921. The net turnover during the day was Rs. 206877181.

Source : Equity Bulls

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