Dr. Reddy's lab relaunch of OTC product - Angel Broking

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

"Dr. Reddy's Laboratories Ltd. along with its subsidiaries together referred to as Dr. Reddy's today announced the relaunch of over-the-counter (OTC) Famotidine Tablets USP, 10 mg and 20 mg, the store-brand equivalents of Original Strength and Maximum Strength Pepcid AC in the U.S. market,as approved by the U.S. Food and Drug Administration (USFDA). Dr. Reddy's OTC Famotidine Tablets are acid reducers that prevent and relieve heartburn associated with acid indigestion and sour stomach brought on by eating or drinking certain food and beverages. The Pepcid AC® brand and generic had U.S. sales of approximately $211 million for the most recent twelve months ending in August 2020. This product will help the company to fill the gap created by Ranitidine due to withdrawal."

Shares of DR.REDDY'S LABORATORIES LTD. was last trading in BSE at Rs.5069.35 as compared to the previous close of Rs. 5051.45. The total number of shares traded during the day was 52936 in over 5283 trades.

The stock hit an intraday high of Rs. 5113.35 and intraday low of 5036.1. The net turnover during the day was Rs. 268494849.

Source : Equity Bulls

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