Launch of Remdesivir and OTC Ciclofenac Sodium Topical Gel by Dr.Reddy's - Angel Broking

Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd

"Dr. Reddy's Laboratories along with its subsidiaries together announces the launch of Remdesivir, under a brand name Redyx in India.The launch is part of the licensing agreement with Gilead Sciences, Inc. (Gilead) that grants Dr. Reddy's the right to register, manufacture and sell Remdesivir, a potential treatment for Covid-19, in 127 countries including India. Remdesivir is approved by Drug Controller General of India (DCGI) for restricted emergency use in India for the treatment of Covid-19 patients hospitalized with severe symptoms.Dr. Reddy's Redyx is available in strength of 100 mg vial. Now Dr. Reddy's Laboratories have both the products for Covid -19 treatment (Remdesivir & Favipiravir). This will be a positive development for the Dr. Reddy's."

"Dr. Reddy's Laboratories along with its subsidiaries together announces the launch of over-the-counter Diclofenac Sodium Topical Gel 1%, the store brand version of Voltaren® Arthritis Pain in the U.S. Market. Dr. Reddy's Diclofenac Sodium Topical Gel, 1% (OTC), is used for the temporary relief of arthritis pain only in the following areas: hand, wrist, elbow (upper body areas) foot, ankle, knee (lower body areas). Voltaren® Arthritis Pain brand had a total U.S. retail sales of approximately $44 million since launch in May 2020 according to IRI*. This is one of the important additions to its Pain/Analgesics portfolio of OTC products in the USA for the company."

Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.4429.35 as compared to the previous close of Rs. 4348. The total number of shares traded during the day was 25518 in over 2938 trades.

The stock hit an intraday high of Rs. 4441.1 and intraday low of 4336.2. The net turnover during the day was Rs. 112222997.

Source : Equity Bulls

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