Dr. Reddy's announces the launch of Dexmedetomidine Hydrochloride in 0.9% Sodium Chloride Injection in the U.S. Market

Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, along with its subsidiaries together referred to as "Dr. Reddy's") today announced the launch of Dexmedetomidine Hydrochloride in 0.9% Sodium Chloride Injection, a therapeutic equivalent generic version of Precedex® (dexmedetomidine hydrochloride) in 0.9% Sodium Chloride Injection, approved by the U.S. Food and Drug Administration (USFDA).

"We are pleased to bring this important generic product to market, making it affordable-and readily available-for patients," says Marc Kikuchi, Chief Executive Officer, North America Generics, Dr. Reddy's Laboratories. "Our ability to adequately supply Dexmedetomidine is important for patients as it is on the FDA's Drug Shortage list."

The Precedex® in 0.9% Sodium Chloride Injection brand and generic market had U.S. sales of approximately $210 million MAT for the most recent twelve months ending in June 2020 according to IQVIA Health*.

Dr. Reddy's Dexmedetomidine Hydrochloride in 0.9% Sodium Chloride Injection is available in 200 mcg/50 mL (4 mcg/mL) and 400 mcg/100 mL (4 mcg/mL) in 50 mL and 100 mL clear glass vials, respectively. The strength is based on the dexmedetomidine base. Containers are intended for single-dose only.

Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.5024.45 as compared to the previous close of Rs. 5100.4. The total number of shares traded during the day was 106661 in over 11153 trades.

The stock hit an intraday high of Rs. 5206.2 and intraday low of 5000. The net turnover during the day was Rs. 544589593.

Precedex® is a trademark owned or licensed by of Hospira, Inc.

*IQVIA Retail and Non-Retail MAT June 2020

Source : Equity Bulls

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