Views on Dr. Reddy's announced the re-launch of Esomeprazole Magnesium Delayed-Release Capsules USP, 20 mg & 40 mg: Angel Broking

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

"Dr. Reddy's announced the re-launch of Esomeprazole Magnesium Delayed-Release Capsules USP, 20 mg & 40 mg:

Dr Reddy's Labs has relaunched its generic form of Nexium, chemically called esomeprazole, in the United States after changing the pill's colour. Dr Reddy's had been temporarily barred by a US court last month from selling generic Nexium after original maker AstraZeneca moved a motion objecting to the use of the colour purple in the Dr Reddy's copy. 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 BUY rating on the stock with a price target of INR 3933."

Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.3121.4 as compared to the previous close of Rs. 3102.3. The total number of shares traded during the day was 58266 in over 5235 trades.

The stock hit an intraday high of Rs. 3171 and intraday low of 3114. The net turnover during the day was Rs. 182833429.

Source : Equity Bulls

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